Kraken Robotics (CVE:PNG) Stock Price Passes Below 50 Day Moving Average – Here’s Why

Posted by Trevor Kearing on Mar 6th, 2025

Kraken Robotics Inc. (CVE:PNG – Get Free Report)’s stock price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$2.60 and traded as low as C$2.13. Kraken Robotics shares last traded at C$2.23, with a volume of 1,199,141 shares changing hands.

Wall Street Analyst Weigh In

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

Read Our Latest Stock Analysis on PNG

Kraken Robotics Price Performance

The stock has a 50-day simple moving average of C$2.60 and a 200 day simple moving average of C$2.19. 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 company has a market cap of C$606.28 million, a P/E ratio of 59.00 and a beta of 1.15.

Insiders Place Their Bets

In related news, Senior Officer Gregory Michael Reid bought 16,260 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was acquired at an average cost of C$2.46 per share, with a total value of C$39,999.60. Also, Senior Officer David Shea bought 11,954 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was bought at an average cost of C$2.64 per share, with a total value of C$31,558.56. Corporate insiders own 10.13% of the company’s stock.

Kraken Robotics Company Profile

(Get Free Report)

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.