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

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 changing hands.

Analysts Set New Price Targets

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

Kraken Robotics Stock Down 4.7 %

The firm’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 current ratio of 2.78, a quick ratio of 0.64 and a debt-to-equity ratio of 34.32. The company has a market capitalization of C$655.22 million, a price-to-earnings 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 firm’s stock in a transaction on Friday, January 10th. The shares were 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 company’s stock in a transaction dated Wednesday, January 8th. The stock was bought at an average cost of C$2.46 per share, with a total value of C$39,999.60. 10.13% of the stock is currently owned by 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.