Kraken Robotics (CVE:PNG) Shares Up 16.7% – Should You Buy?

Kraken Robotics Inc. (CVE:PNG) shares rose 16.7% during mid-day trading on Wednesday . The company traded as high as C$2.63 and last traded at C$2.55. Approximately 1,079,700 shares were traded during mid-day trading, an increase of 4% from the average daily volume of 1,039,761 shares. The stock had previously closed at C$2.19.

Analyst Upgrades and Downgrades

Several brokerages have commented on PNG. Raymond James raised Kraken Robotics to a “moderate buy” rating in a research report on Thursday, January 23rd. Desjardins set a C$3.60 price target on Kraken Robotics and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Canaccord Genuity Group upped their price objective on Kraken Robotics from C$2.00 to C$2.50 in a research report on Friday, November 22nd.

Kraken Robotics Stock Up 14.2 %

The company has a debt-to-equity ratio of 34.32, a current ratio of 2.78 and a quick ratio of 0.64. The stock has a market capitalization of C$678.33 million, a PE ratio of 66.02 and a beta of 1.15. The business’s fifty day moving average price is C$2.64 and its two-hundred day moving average price is C$2.16.

Insider Activity

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

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.