Kraken Robotics (CVE:PNG) Given New C$13.00 Price Target at Desjardins

Kraken Robotics (CVE:PNG) had its price target reduced by equities research analysts at Desjardins from C$13.50 to C$13.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ price target would indicate a potential upside of 143.90% from the stock’s previous close.

A number of other analysts have also issued reports on PNG. Raymond James Financial dropped their price objective on shares of Kraken Robotics from C$11.00 to C$8.00 and set an “outperform” rating on the stock in a research note on Friday. National Bank Financial decreased their target price on shares of Kraken Robotics to C$10.00 in a research note on Friday, July 3rd. Scotia upped 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. Finally, ATB Cormark Capital Markets lowered their price target on shares of Kraken Robotics from C$6.50 to C$5.00 and set an “underperform” rating for the company in a report on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Kraken Robotics has an average rating of “Moderate Buy” and a consensus price target of C$9.60.

Kraken Robotics Stock Down 1.3%

Kraken Robotics stock traded down C$0.07 during midday trading on Friday, hitting C$5.33. 1,889,983 shares of the company were exchanged, compared to its average volume of 1,572,126. The company has a market cap of C$1.64 billion, a PE ratio of 744.00 and a beta of 0.91. Kraken Robotics has a fifty-two week low of C$3.31 and a fifty-two week high of C$10.72. The company’s fifty day moving average price is C$6.23 and its 200-day moving average price is C$7.48. The company has a debt-to-equity ratio of 16.23, a current ratio of 1.37 and a quick ratio of 0.64.

Insider Buying and Selling at Kraken Robotics

In other news, Director Michael Shaun Mcewan sold 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of C$6.21, for a total transaction of C$931,500.00. Following the completion of the sale, the director owned 252,548 shares of the company’s stock, valued at approximately C$1,568,323.08. This trade represents a 37.26% decrease in their ownership of the stock. Also, Director Donald Christopher Robertson purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was bought at an average price of C$6.05 per share, with a total value of C$60,500.00. Following the purchase, the director owned 10,000 shares of the company’s stock, valued at approximately C$60,500. The trade was a ∞ increase in their position. Insiders have sold a total of 238,687 shares of company stock valued at $1,485,800 in the last three months. Corporate insiders own 10.13% of the company’s stock.

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. 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.