Raymond James Financial Boosts Kraken Robotics (CVE:PNG) Price Target to C$6.25

Kraken Robotics (CVE:PNG) had its target price upped by investment analysts at Raymond James Financial from C$4.00 to C$6.25 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James Financial’s price target suggests a potential upside of 7.02% from the stock’s previous close.

Other analysts have also issued research reports about the company. Desjardins upped their price objective on shares of Kraken Robotics from C$4.00 to C$5.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. Scotiabank upgraded Kraken Robotics to a “strong-buy” rating in a report on Thursday, August 14th. Finally, National Bankshares boosted their target price on Kraken Robotics from C$5.00 to C$7.50 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$6.06.

Kraken Robotics Price Performance

Shares of CVE PNG traded up C$0.45 during mid-day trading on Tuesday, reaching C$5.84. 1,729,783 shares of the company were exchanged, compared to its average volume of 1,248,237. The stock has a market capitalization of C$1.79 billion, a PE ratio of 83.43 and a beta of 1.07. The company has a quick ratio of 0.64, a current ratio of 2.78 and a debt-to-equity ratio of 34.32. Kraken Robotics has a 52 week low of C$1.98 and a 52 week high of C$7.44. The company’s 50 day moving average price is C$5.53 and its 200 day moving average price is C$4.00.

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.