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

Shares of Kraken Robotics Inc. (CVE:PNG) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$2.93 and last traded at C$2.88, with a volume of 718528 shares changing hands. The stock had previously closed at C$2.86.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group upped their price objective on Kraken Robotics from C$2.00 to C$2.50 in a research note on Friday, November 22nd.

Kraken Robotics Stock Performance

The company has a market cap of C$646.67 million, a PE ratio of 56.20 and a beta of 1.15. The company has a debt-to-equity ratio of 37.39, a quick ratio of 0.64 and a current ratio of 2.71. The stock’s 50-day simple moving average is C$2.52 and its 200 day simple moving average is C$1.89.

Insider Buying and Selling

In related news, Senior Officer David Shea acquired 11,954 shares of Kraken Robotics stock in a transaction that occurred on Friday, January 10th. The stock was purchased at an average price of C$2.64 per share, for a total transaction of C$31,558.56. Also, Senior Officer Gregory Michael Reid bought 16,260 shares of the stock in a transaction on Wednesday, January 8th. The shares were bought at an average price of C$2.46 per share, for a total transaction of C$39,999.60. 10.13% of the stock is currently owned by corporate insiders.

Kraken Robotics Company Profile

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.