Kraken Robotics Inc. (CVE:PNG) Receives C$9.35 Consensus PT from Analysts

Kraken Robotics Inc. (CVE:PNG) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$9.35.

A number of equities research analysts recently weighed in on PNG shares. National Bank Financial cut their price objective on shares of Kraken Robotics to C$10.00 in a research note on Friday, July 3rd. Scotia raised their target price on shares of Kraken Robotics from C$9.00 to C$12.00 and gave the company a “sector outperform” rating in a research note on Friday, July 3rd. ATB Cormark Capital Markets dropped their price target on shares of Kraken Robotics from C$6.50 to C$5.00 and set an “underperform” rating on the stock in a research report on Tuesday, July 7th. Finally, Desjardins reduced their price target on shares of Kraken Robotics to C$13.50 and set a “buy” rating for the company in a research note on Friday, July 3rd.

Insider Activity at Kraken Robotics

In other news, insider Duane Joseph Alexander Mackay bought 41,500 shares of the business’s stock in a transaction on Wednesday, July 8th. The stock was purchased at an average cost of C$6.00 per share, for a total transaction of C$249,000.00. Following the completion of the transaction, the insider directly owned 1,154,500 shares of the company’s stock, valued at approximately C$6,927,000. This trade represents a 3.73% increase in their position. Also, Director Michael Shaun Mcewan sold 150,000 shares of the stock in a transaction on Thursday, July 9th. The shares were sold at an average price of C$6.21, for a total value of C$931,500.00. Following the transaction, the director directly owned 252,548 shares of the company’s stock, valued at approximately C$1,568,323.08. The trade was a 37.26% decrease in their ownership of the stock. Insiders have sold 238,687 shares of company stock worth $1,485,800 over the last quarter. 10.13% of the stock is currently owned by company insiders.

Kraken Robotics Trading Down 1.4%

CVE:PNG opened at C$5.76 on Friday. Kraken Robotics has a 1 year low of C$3.31 and a 1 year high of C$10.72. The stock has a market cap of C$1.77 billion, a price-to-earnings ratio of 744.00 and a beta of 0.91. The business has a fifty day moving average of C$6.28 and a 200-day moving average of C$7.49. The company has a debt-to-equity ratio of 16.23, a quick ratio of 0.64 and a current ratio of 1.37.

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.