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

Shares of Kraken Robotics Inc. (CVE:PNG) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$2.37 and traded as low as C$2.25. Kraken Robotics shares last traded at C$2.31, with a volume of 394,527 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Raymond James upgraded Kraken Robotics to a “moderate buy” rating in a research note on Thursday, January 23rd. Desjardins set a C$3.60 price objective on shares of Kraken Robotics and gave the stock a “buy” rating in a report on Wednesday, February 12th.

Kraken Robotics Trading Up 1.8 %

The company has a market capitalization of C$628.03 million, a P/E ratio of 61.12 and a beta of 1.15. 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 stock has a fifty day moving average of C$2.37 and a 200 day moving average of C$2.35.

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.