Kraken Robotics (CVE:PNG) Stock Price Down 5.5% – Here’s What Happened
by Sarita Garza · The Markets DailyKraken Robotics Inc. (CVE:PNG – Get Free Report)’s stock price was down 5.5% during trading on Monday . The stock traded as low as C$7.55 and last traded at C$7.75. Approximately 716,760 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 2,009,832 shares. The stock had previously closed at C$8.20.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on PNG shares. ATB Cormark Capital Markets downgraded shares of Kraken Robotics from a “hold” rating to a “strong sell” rating and lifted their price target for the company from C$5.50 to C$6.50 in a report on Friday, March 13th. Desjardins raised their price objective on shares of Kraken Robotics from C$9.50 to C$14.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Finally, National Bank Financial upgraded shares of Kraken Robotics from a “hold” rating to an “outperform” rating and lifted their target price for the company from C$8.75 to C$13.00 in a research note on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$8.75.
Get Our Latest Analysis on Kraken Robotics
Kraken Robotics Trading Down 7.7%
The company has a debt-to-equity ratio of 16.12, a quick ratio of 0.64 and a current ratio of 7.30. The company has a market capitalization of C$2.32 billion, a PE ratio of 108.14 and a beta of 0.72. The stock has a fifty day moving average of C$8.53 and a 200 day moving average of C$6.84.
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. It operates in two segments, Products, and Services. The company offers AquaPix miniature interferometric synthetic aperture sonar (MINSAS), a configurable MINSAS; and SeaPower, a pressure tolerant deep sea batteries.