Kraken Robotics (CVE:PNG) Stock Price Expected to Rise, Scotia Analyst Says

Kraken Robotics (CVE:PNG) had its price objective hoisted by analysts at Scotia from C$9.00 to C$12.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “sector outperform” rating on the stock. Scotia’s target price would indicate a potential upside of 78.31% from the company’s current price.

PNG has been the topic of several other reports. National Bank Financial raised Kraken Robotics from a “hold” rating to an “outperform” rating and boosted their price target for the company from C$8.75 to C$13.00 in a research note on Friday, March 13th. Desjardins lifted their price objective on shares of Kraken Robotics from C$9.50 to C$14.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Finally, ATB Cormark Capital Markets downgraded shares of Kraken Robotics from a “hold” rating to a “strong sell” rating and boosted their target price for the company from C$5.50 to C$6.50 in a research report on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Kraken Robotics presently has a consensus rating of “Moderate Buy” and an average target price of C$8.71.

Kraken Robotics Trading Up 5.7%

CVE PNG traded up C$0.36 during mid-day trading on Friday, reaching C$6.73. 811,261 shares of the stock were exchanged, compared to its average volume of 1,712,016. The stock has a market cap of C$2.07 billion, a P/E ratio of 744.00 and a beta of 0.71. The company has a debt-to-equity ratio of 16.23, a current ratio of 1.37 and a quick ratio of 0.64. Kraken Robotics has a one year low of C$3.00 and a one year high of C$10.72. The stock has a 50 day simple moving average of C$7.38 and a 200-day simple moving average of C$7.82.

About Kraken Robotics

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.