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Kraken Robotics Systems Inc ( (TSE:PNG) ) just unveiled an update.
Kraken Robotics has announced receiving $13 million in orders for its synthetic aperture sonar (SAS) and subsea batteries from clients in the United States, Norway, and Turkey. These products will be integrated into various uncrewed underwater vehicle platforms, enhancing their capabilities with high-resolution imaging and increased endurance. The adoption of Kraken’s SAS technology is growing among defense clients due to its superior area coverage and resolution, which are crucial for efficient subsea hazard identification. This development underscores Kraken’s strengthening position in the subsea technology market and its role in international naval exercises, such as the REPMUS exercise in Portugal, where its technology has been successfully deployed.
The most recent analyst rating on (TSE:PNG) stock is a Buy with a C$4.00 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 TSE:PNG Stock
According to Spark, TipRanks’ AI Analyst, TSE:PNG is a Outperform.
Kraken Robotics’ strong financial performance and strategic corporate events are major positives, suggesting growth potential. However, the high P/E ratio indicates potential overvaluation, and technical indicators suggest short-term caution due to overbought conditions. Addressing cash flow consistency will be key for long-term sustainability.
To see Spark’s full report on TSE:PNG stock, click here.
More about Kraken Robotics Systems Inc
Kraken Robotics Inc. is a company specializing in transforming subsea intelligence through advanced 3D imaging sensors, power solutions, and robotic systems. Their products, including synthetic aperture sonar, sub-bottom imaging, and LiDAR systems, offer high-resolution insights into ocean safety, infrastructure, and geology. Kraken also provides pressure-tolerant batteries for uncrewed underwater vehicles (UUVs) and subsea energy storage. Headquartered in Canada, Kraken Robotics serves clients in over 30 countries worldwide, with offices in North America, South America, and Europe.
Average Trading Volume: 1,340,234
Technical Sentiment Signal: Buy
Current Market Cap: C$1.04B
See more data about PNG stock on TipRanks’ Stock Analysis page.