Kraken Robotics Inc. (CVE:PNG) Receives C$8.75 Average PT from Analysts

Shares of Kraken Robotics Inc. (CVE:PNG) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$8.75.

PNG has been the topic of a number of recent analyst reports. National Bank Financial raised shares of Kraken Robotics from a “hold” rating to an “outperform” rating and lifted their price target for the company from C$8.75 to C$13.00 in a research report on Friday, March 13th. ATB Cormark Capital Markets downgraded Kraken Robotics from a “hold” rating to a “strong sell” rating and raised their price target for the company from C$5.50 to C$6.50 in a research report on Friday, March 13th. Finally, Desjardins raised their price target on Kraken Robotics from C$9.50 to C$14.00 and gave the company a “buy” rating in a research report on Friday, March 13th.

Kraken Robotics Price Performance

Shares of CVE:PNG opened at C$8.20 on Thursday. Kraken Robotics has a fifty-two week low of C$2.30 and a fifty-two week high of C$10.72. The stock has a market capitalization of C$2.52 billion, a P/E ratio of 820.00 and a beta of 0.78. The company has a debt-to-equity ratio of 15.94, a current ratio of 5.53 and a quick ratio of 0.64. The business has a 50-day moving average of C$8.12 and a two-hundred day moving average of C$7.54.

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.