Kraken Robotics (CVE:PNG) Stock Price Crosses Below 50 Day Moving Average – Here’s What Happened

Kraken Robotics Inc. (CVE:PNG)’s share price crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$7.78 and traded as low as C$6.96. Kraken Robotics shares last traded at C$6.96, with a volume of 780,268 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. National Bank Financial raised Kraken Robotics from a “hold” rating to an “outperform” rating and increased their price target for the company from C$8.75 to C$13.00 in a research note on Friday, March 13th. ATB Cormark Capital Markets cut Kraken Robotics from a “hold” rating to a “strong sell” rating and increased their price target for the company from C$5.50 to C$6.50 in a research note on Friday, March 13th. Finally, Desjardins increased their price target on Kraken Robotics from C$9.50 to C$14.00 and gave the company a “buy” rating in a research note on Friday, March 13th. One investment 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 issued a Sell rating to the stock. Based on data from MarketBeat, Kraken Robotics has a consensus rating of “Moderate Buy” and an average price target of C$8.75.

Kraken Robotics Trading Down 2.2%

The company has a market cap of C$2.14 billion, a price-to-earnings ratio of 744.00 and a beta of 0.71. The firm has a 50 day moving average price of C$7.78 and a two-hundred day moving average price of C$7.74. The company has a quick ratio of 0.64, a current ratio of 1.37 and a debt-to-equity ratio of 16.23.

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.