Kraken Robotics (CVE:PNG) Stock Passes Above 200-Day Moving Average – Should You Sell?

Shares of Kraken Robotics Inc. (CVE:PNG) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$2.28 and traded as high as C$2.70. Kraken Robotics shares last traded at C$2.51, with a volume of 501,724 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PNG shares. Raymond James upgraded Kraken Robotics to a “moderate buy” rating in a report on Thursday, January 23rd. 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.

Kraken Robotics Price 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 stock’s 50 day moving average price is C$2.52 and its two-hundred day moving average price is C$2.28. The firm has a market capitalization of C$681.04 million, a price-to-earnings ratio of 66.28 and a beta of 1.15.

Insider Buying and Selling

In other Kraken Robotics news, Senior Officer Gregory Michael Reid purchased 16,260 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was bought at an average cost of C$2.46 per share, for a total transaction of C$39,999.60. Also, Senior Officer David Shea acquired 11,954 shares of Kraken Robotics stock in a transaction dated Friday, January 10th. The stock was acquired 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.