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

Kraken Robotics Inc. (CVE:PNG) shares rose 16.7% on Wednesday . The stock traded as high as C$2.63 and last traded at C$2.55. Approximately 1,079,700 shares were traded 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.

Wall Street Analyst Weigh In

A number of brokerages have weighed in 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 lifted their target price on shares of Kraken Robotics from C$2.00 to C$2.50 in a report on Friday, November 22nd. Finally, Raymond James raised shares of Kraken Robotics to a “moderate buy” rating in a report on Thursday, January 23rd.

Kraken Robotics Trading Up 14.2 %

The stock 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 quick ratio of 0.64, a current ratio of 2.78 and a debt-to-equity ratio of 34.32. The stock’s 50 day moving average price is C$2.64 and its 200-day moving average price is C$2.16.

Insider Activity at Kraken Robotics

In other news, Senior Officer David Shea purchased 11,954 shares of the company’s stock in a transaction that occurred 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 acquired 16,260 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was acquired at an average price of C$2.46 per share, with a total value of C$39,999.60. 10.13% of the stock is owned by corporate insiders.

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.