Kraken Robotics (CVE:PNG) Reaches New 12-Month High Following Insider Buying Activity

Kraken Robotics Inc. (CVE:PNG – Get Rating)’s stock price hit a new 52-week high during mid-day trading on Monday following insider buying activity. The company traded as high as C$0.67 and last traded at C$0.66, with a volume of 109559 shares trading hands. The stock had previously closed at C$0.67.

Specifically, Director Michael Shaun Mcewan purchased 75,000 shares of Kraken Robotics stock in a transaction dated Friday, January 20th. The shares were acquired at an average price of C$0.67 per share, with a total value of C$50,115.00. Following the completion of the transaction, the director now owns 75,000 shares of the company’s stock, valued at approximately C$50,115. Over the last 90 days, insiders have purchased 86,250 shares of company stock valued at $56,890.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group increased their price target on shares of Kraken Robotics from C$0.70 to C$0.80 in a research report on Wednesday, November 30th.

Kraken Robotics Stock Down 1.5 %

The company has a debt-to-equity ratio of 62.60, a current ratio of 1.06 and a quick ratio of 0.64. The stock’s fifty day simple moving average is C$0.57 and its 200-day simple moving average is C$0.45. The stock has a market cap of C$130.99 million and a P/E ratio of -22.41.

About Kraken Robotics

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Kraken Robotics Inc, a marine technology company, engages in the design, manufacture, and sale of software-centric sensors, batteries, and underwater robotic systems for unmanned underwater vehicles used in military and commercial applications. It operates in two segments, Sensors and Platforms, and Power.