Kraken Robotics (CVE:PNG) Downgraded by ATB Cormark Capital Markets to Underperform

Kraken Robotics (CVE:PNG) was downgraded by analysts at ATB Cormark Capital Markets from a “sector perform” rating to an “underperform” rating in a research note issued on Friday,BayStreet.CA reports. They presently have a C$6.50 price target on the stock, up from their prior price target of C$5.50. ATB Cormark Capital Markets’ target price would indicate a potential downside of 31.00% from the stock’s current price.

PNG has been the topic of several other reports. Desjardins boosted their price target on shares of Kraken Robotics from C$9.50 to C$14.00 and gave the company a “buy” rating in a report on Friday. Raymond James Financial lifted their price objective on Kraken Robotics from C$4.00 to C$6.25 and gave the company an “outperform” rating in a research report on Tuesday, November 25th. National Bank Financial raised Kraken Robotics from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$8.75 to C$13.00 in a research report on Friday. Finally, Cormark downgraded Kraken Robotics from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Kraken Robotics presently has a consensus rating of “Moderate Buy” and an average price target of C$8.75.

Kraken Robotics Stock Down 2.1%

Kraken Robotics stock traded down C$0.20 during trading hours on Friday, hitting C$9.42. The company had a trading volume of 1,628,793 shares, compared to its average volume of 2,037,315. The firm has a market capitalization of C$2.89 billion, a P/E ratio of 134.57 and a beta of 0.72. The company has a debt-to-equity ratio of 16.12, a current ratio of 7.30 and a quick ratio of 0.64. The firm’s fifty day moving average is C$8.23 and its 200-day moving average is C$6.36. Kraken Robotics has a fifty-two week low of C$2.06 and a fifty-two week high of C$10.72.

Kraken Robotics Company Profile

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. It operates in two segments, Products, and Services. The company offers AquaPix miniature interferometric synthetic aperture sonar (MINSAS), a configurable MINSAS; and SeaPower, a pressure tolerant deep sea batteries.