Brokerages Set Kraken Robotics Inc. (CVE:PNG) Target Price at C$6.06

Kraken Robotics Inc. (CVE:PNG) has earned an average rating of “Buy” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is C$6.06.

A number of research analysts recently weighed in on PNG shares. National Bankshares boosted their target price on Kraken Robotics from C$5.00 to C$7.50 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Raymond James Financial lifted their price objective on shares of Kraken Robotics from C$4.00 to C$6.25 and gave the stock an “outperform” rating in a research report on Tuesday, November 25th. Desjardins upped their price objective on shares of Kraken Robotics from C$5.00 to C$6.50 and gave the company a “buy” rating in a report on Tuesday, November 25th. Finally, Cormark lowered shares of Kraken Robotics from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 25th.

Kraken Robotics Trading Up 0.5%

Kraken Robotics stock opened at C$6.26 on Monday. The stock has a 50-day simple moving average of C$5.97 and a 200 day simple moving average of C$4.59. The stock has a market capitalization of C$1.92 billion, a P/E ratio of 89.43 and a beta of 0.97. The company has a debt-to-equity ratio of 34.32, a quick ratio of 0.64 and a current ratio of 2.78. Kraken Robotics has a 52 week low of C$2.06 and a 52 week high of C$7.44.

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.