Kraken Robotics (CVE:PNG) Hits New 52-Week High – Time to Buy?

Kraken Robotics Inc. (CVE:PNG)’s share price reached a new 52-week high on Wednesday . The company traded as high as C$8.93 and last traded at C$8.70, with a volume of 3144009 shares trading hands. The stock had previously closed at C$8.43.

Analyst Ratings Changes

Several research firms recently commented on PNG. Desjardins upped their price objective on Kraken Robotics from C$5.00 to C$6.50 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Cormark lowered Kraken Robotics from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Raymond James Financial upped their price target on Kraken Robotics from C$4.00 to C$6.25 and gave the company an “outperform” rating in a research report on Tuesday, November 25th. Finally, National Bankshares lifted their price objective on Kraken Robotics from C$5.00 to C$7.50 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Kraken Robotics presently has an average rating of “Buy” and an average target price of C$6.06.

Kraken Robotics Trading Up 3.2%

The stock has a market cap of C$2.67 billion, a PE ratio of 124.29 and a beta of 0.95. The firm has a 50-day simple moving average of C$6.13 and a 200-day simple moving average of C$4.97. The company has a quick ratio of 0.64, a current ratio of 2.78 and a debt-to-equity ratio of 34.32.

About Kraken Robotics

Kraken Robotics Inc, a marine technology company, engages in the design, manufacture, and sale of sonar and optical sensors, batteries, and underwater robotic equipment for unmanned underwater vehicles used in military and commercial applications in Canada, the Asia Pacific, Europe, the Middle East, Africa, North America, and internationally. It operates in two segments, Products, and Services. The company offers AquaPix miniature interferometric synthetic aperture sonar (MINSAS), a configurable MINSAS; and SeaPower, a pressure tolerant deep sea batteries.