Q: Hi-Kraken is powering upwards very impressively over the last few weeks. I'm unable to find any neaningful news that would explain it. Is there a whiff of a takeover or maybe something else?
I appreciate your business model.
Dave in Montreal
I appreciate your business model.
Dave in Montreal
5i Research Answer:
On Nov. 4 PNG completed a KATFISH launch and recovery demo for Navy customers, but there has been no other news this week. At $580M market cap, it is now of big enough size to attract more institutional investors. Recent customer wins bodes well for a good Q3 report (likely next week, no official date announced). We do not think management would entertain a takeover approach while its business outlook is accelerating.