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Kraken Robotics Systems Inc ( (TSE:PNG) ) just unveiled an update.
Kraken Robotics Inc., a Canadian subsea technology specialist known for its synthetic aperture sonar and pressure-tolerant batteries, is expanding its global defence and maritime footprint through advanced imaging and power solutions. The company is also moving to scale its operations further, following its recently announced agreement to acquire Covelya Group Limited, a major international provider of underwater technology.
The company has secured approximately $24 million in new defence-related orders across more than 10 customers in five countries, including three new defence customers, for its SeaPower batteries, KATFISH towed synthetic aperture sonar, and standalone SAS products. Kraken highlighted robust SeaPower battery demand, the imminent ramp-up of production at its new Nova Scotia facility, and a fresh KATFISH sale to the Polish Navy via local partner Thesta, underscoring growing adoption of its minehunting and AUV solutions in NATO-aligned markets.
The most recent analyst rating on (TSE:PNG) stock is a Buy with a C$13.00 price target. To see the full list of analyst forecasts on Kraken Robotics Systems Inc stock, see the TSE:PNG Stock Forecast page.
Spark’s Take on PNG Stock
According to Spark, TipRanks’ AI Analyst, PNG is a Neutral.
The score is primarily supported by strong revenue growth, healthy profitability, and a conservatively leveraged balance sheet, but is held back by negative operating/free cash flow and a very high P/E valuation. Technically, the trend is bullish, yet overbought momentum signals increase near-term downside risk.
To see Spark’s full report on PNG stock, click here.
More about Kraken Robotics Systems Inc
Kraken Robotics Inc. is a Canada-headquartered marine technology company specializing in subsea intelligence through 3D imaging sensors, power solutions, and robotic systems for naval, energy, and infrastructure customers. Its portfolio includes synthetic aperture sonar, sub-bottom imaging, LiDAR systems, and pressure-tolerant batteries that power uncrewed underwater vehicles and subsea energy storage, with clients in more than 30 countries and offices across North America, South America, and Europe.
Average Trading Volume: 1,901,160
Technical Sentiment Signal: Buy
Current Market Cap: C$2.94B
Find detailed analytics on PNG stock on TipRanks’ Stock Analysis page.