Kraken Robotics (CVE:PNG) Trading Up 16.7% – Here’s Why

Kraken Robotics Inc. (CVE:PNG)’s stock price was up 16.7% on Wednesday . The company traded as high as C$2.63 and last traded at C$2.55. Approximately 1,079,700 shares traded hands during 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 research firms recently issued reports on PNG. Canaccord Genuity Group lifted their price target 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 report on Thursday, January 23rd. Finally, Desjardins set a C$3.60 price objective on shares of Kraken Robotics and gave the company a “buy” rating in a research report on Wednesday, February 12th.

Kraken Robotics Trading Up 14.2 %

The business has a 50 day moving average price of C$2.64 and a 200 day moving average price of C$2.16. The company has a market capitalization of C$678.33 million, a P/E ratio of 66.02 and a beta of 1.15. The company has a current ratio of 2.78, a quick ratio of 0.64 and a debt-to-equity ratio of 34.32.

Insider Transactions at Kraken Robotics

In other Kraken Robotics news, Senior Officer David Shea acquired 11,954 shares of Kraken Robotics stock in a transaction 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 purchased 16,260 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were purchased at an average price of C$2.46 per share, with a total value of C$39,999.60. 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.