Kraken Robotics (CVE:PNG) Share Price Passes Below 50 Day Moving Average – Should You Sell?

Shares of Kraken Robotics Inc. (CVE:PNG) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$2.66 and traded as low as C$2.38. Kraken Robotics shares last traded at C$2.41, with a volume of 793,726 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Canaccord Genuity Group boosted their price objective on shares of Kraken Robotics from C$2.00 to C$2.50 in a research note on Friday, November 22nd. Raymond James upgraded Kraken Robotics to a “moderate buy” rating in a research report on Thursday, January 23rd. Finally, Desjardins set a C$3.60 price objective on Kraken Robotics and gave the stock a “buy” rating in a research report on Wednesday, February 12th.

Kraken Robotics Stock Performance

The company has a debt-to-equity ratio of 34.32, a quick ratio of 0.64 and a current ratio of 2.78. The stock’s 50 day moving average price is C$2.66 and its 200 day moving average price is C$2.12. The company has a market capitalization of C$655.22 million, a P/E ratio of 63.77 and a beta of 1.15.

Insider Activity at Kraken Robotics

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