Kraken Robotics (CVE:PNG) Sets New 12-Month Low – Here’s Why

Kraken Robotics Inc. (CVE:PNG) reached a new 52-week low during trading on Thursday. The stock traded as low as C$3.41 and last traded at C$3.42, with a volume of 838,861 shares trading hands. The stock had previously closed at C$3.56.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PNG. Raymond James Financial cut their price target on Kraken Robotics from C$11.00 to C$8.00 and set an “outperform” rating on the stock in a research note on Friday, August 28th. ATB Cormark Capital Markets upgraded Kraken Robotics from a “strong sell” rating to a “hold” rating in a research report on Friday, August 28th. Desjardins dropped their price objective on Kraken Robotics from C$13.50 to C$13.00 and set a “buy” rating for the company in a report on Friday, August 28th. Royal Bank Of Canada set a C$6.00 target price on shares of Kraken Robotics and gave the company a “moderate buy” rating in a research note on Tuesday, September 15th. Finally, National Bank Financial reduced their target price on shares of Kraken Robotics from C$10.00 to C$8.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 21st. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$8.67.

Kraken Robotics Stock Up 0.9%

The company has a debt-to-equity ratio of 16.99, a quick ratio of 0.64 and a current ratio of 1.33. The stock has a market capitalization of C$1.26 billion, a price-to-earnings ratio of -169.00 and a beta of 1.26. The firm’s fifty day simple moving average is C$4.41 and its 200 day simple moving average is C$6.75.

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.