Kraken Robotics Secures Over $3 Million in Sonar System Sales

Kraken Robotics Systems Inc ( (TSE:PNG) ) just unveiled an update.

Kraken Robotics Inc. has announced new orders exceeding $3 million for its Synthetic Aperture Sonar (SAS) systems, which will be integrated into uncrewed underwater vehicles for clients across Asia Pacific, Europe, and North America. This development highlights the growing demand for Kraken’s technology, which enhances the capabilities of uncrewed systems by providing high-resolution imaging and bathymetric mapping. The orders include a significant contract with the University of Southern Mississippi’s Roger F. Wicker Center for Ocean Enterprise, which will use the technology for research and development. This expansion in sales underscores Kraken’s strong positioning in the subsea intelligence market and its potential impact on research and operational efficiency in oceanographic studies.

The most recent analyst rating on (TSE:PNG) stock is a Buy with a C$3.50 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 Neutral.

Kraken Robotics shows strong financial performance with substantial revenue growth and improved profitability. However, negative cash flow from operations poses a risk, and the high P/E ratio suggests potential overvaluation. Technical indicators are mixed, indicating neutral momentum. While the company is well-positioned for future growth, attention is needed on cash flow management and valuation concerns.

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 subsea intelligence through the development of 3D imaging sensors, power solutions, and robotic systems. Their products, including synthetic aperture sonar, sub-bottom imaging, and LiDAR systems, provide high-resolution insights into ocean safety, infrastructure, and geology. The company also offers pressure-tolerant batteries for UUVs and subsea energy storage. Headquartered in Canada, Kraken Robotics operates globally with offices in North America, South America, and Europe, serving clients in over 30 countries.

Average Trading Volume: 709,973

Technical Sentiment Signal: Buy

Current Market Cap: C$638.6M

Find detailed analytics on PNG stock on TipRanks’ Stock Analysis page.