Kraken Robotics (CVE:PNG) Shares Pass Below 50-Day Moving Average – Time to Sell?

Kraken Robotics Inc. (CVE:PNG) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$2.47 and traded as low as C$2.27. Kraken Robotics shares last traded at C$2.32, with a volume of 593,879 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Desjardins set a C$3.60 price target on shares of Kraken Robotics and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Raymond James raised Kraken Robotics to a “moderate buy” rating in a research report on Thursday, January 23rd.

Kraken Robotics Trading Down 4.3 %

The firm has a market capitalization of C$603.56 million, a price-to-earnings ratio of 58.74 and a beta of 1.15. The business’s 50-day moving average price is C$2.46 and its 200 day moving average price is C$2.32. The company has a debt-to-equity ratio of 34.32, a current ratio of 2.78 and a quick ratio of 0.64.

Insider Activity

In other Kraken Robotics news, Senior Officer Gregory Michael Reid bought 16,260 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were bought at an average cost of C$2.46 per share, with a total value of C$39,999.60. Also, Senior Officer David Shea purchased 11,954 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were bought at an average cost of C$2.64 per share, with a total value of C$31,558.56. Insiders own 10.13% of the company’s stock.

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.