Kraken Robotics (CVE:PNG) Trading Up 16.7% – What’s Next?

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

Analyst Upgrades and Downgrades

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

Kraken Robotics Stock Performance

The company has a 50-day simple moving average of C$2.64 and a two-hundred day simple moving average of C$2.16. 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 firm has a market capitalization of C$678.33 million, a P/E ratio of 66.02 and a beta of 1.15.

Insider Buying and Selling at Kraken Robotics

In other news, Senior Officer David Shea bought 11,954 shares of the stock in a transaction on Friday, January 10th. The stock was bought 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 acquired 16,260 shares of Kraken Robotics stock in a transaction on Wednesday, January 8th. The shares were bought at an average price of C$2.46 per share, with a total value of C$39,999.60. Company 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.