Kraken Robotics (CVE:PNG) Downgraded to Hold Rating by Natl Bk Canada

Natl Bk Canada cut shares of Kraken Robotics (CVE:PNG) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the company. Cormark lowered Kraken Robotics from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Desjardins lifted their price target on Kraken Robotics from C$6.50 to C$9.50 and gave the stock a “buy” rating in a research note on Wednesday. National Bankshares downgraded Kraken Robotics from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from C$7.50 to C$8.75 in a research report on Wednesday. Finally, Raymond James Financial raised their target price on shares of Kraken Robotics from C$4.00 to C$6.25 and gave the stock an “outperform” rating in a report on Tuesday, November 25th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Kraken Robotics has a consensus rating of “Moderate Buy” and an average target price of C$7.13.

Kraken Robotics Trading Up 2.6%

Kraken Robotics stock traded up C$0.21 during mid-day trading on Wednesday, hitting C$8.15. The company’s stock had a trading volume of 439,936 shares, compared to its average volume of 2,240,015. The business has a 50 day moving average price of C$6.18 and a 200-day moving average price of C$4.99. The company has a debt-to-equity ratio of 34.32, a current ratio of 2.78 and a quick ratio of 0.64. Kraken Robotics has a 12 month low of C$2.06 and a 12 month high of C$8.93. The stock has a market cap of C$2.50 billion, a price-to-earnings ratio of 116.43 and a beta of 0.95.

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.