Kraken Robotics (CVE:PNG) Given New C$12.00 Price Target at Scotia

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

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

Kraken Robotics Stock Up 5.7%

CVE PNG traded up C$0.36 during trading hours on Friday, hitting C$6.73. The company’s stock had a trading volume of 811,261 shares, compared to its average volume of 1,712,016. The company has a market capitalization of C$2.07 billion, a PE ratio of 744.00 and a beta of 0.71. The company has a current ratio of 1.37, a quick ratio of 0.64 and a debt-to-equity ratio of 16.23. Kraken Robotics has a 52 week low of C$3.00 and a 52 week high of C$10.72. The company’s 50-day simple moving average is C$7.38 and its two-hundred day simple moving average is 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.