Kraken Robotics (CVE:PNG) Stock Price Crosses Below 50-Day Moving Average – What’s Next?

Kraken Robotics Inc. (CVE:PNG)’s share price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$2.66 and traded as low as C$2.38. Kraken Robotics shares last traded at C$2.41, with a volume of 793,726 shares traded.

Analysts Set New Price Targets

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

Kraken Robotics Stock Performance

The company has a debt-to-equity ratio of 34.32, a current ratio of 2.78 and a quick ratio of 0.64. The firm has a market capitalization of C$655.22 million, a price-to-earnings ratio of 63.77 and a beta of 1.15. The firm’s fifty day moving average is C$2.66 and its 200 day moving average is C$2.14.

Insider Buying and Selling

In other Kraken Robotics news, Senior Officer Gregory Michael Reid bought 16,260 shares of Kraken Robotics stock in a transaction on Wednesday, January 8th. The stock was purchased at an average cost of C$2.46 per share, for a total transaction of C$39,999.60. Also, Senior Officer David Shea bought 11,954 shares of Kraken Robotics stock in a transaction on Friday, January 10th. The stock was acquired at an average price of C$2.64 per share, with a total value of C$31,558.56. 10.13% of the stock is currently 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.