Kraken Robotics Inc. (CVE:PNG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Kraken Robotics Inc. (CVE:PNG) have earned an average rating of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is C$9.00.

A number of research firms recently commented on PNG. ATB Cormark Capital Markets upgraded Kraken Robotics from a “strong sell” rating to a “hold” rating in a research note on Friday, August 28th. Scotia upped their price target on Kraken Robotics from C$9.00 to C$12.00 and gave the company a “sector outperform” rating in a research report on Friday, July 3rd. Desjardins reduced their price objective on Kraken Robotics from C$13.50 to C$13.00 and set a “buy” rating on the stock in a research note on Friday, August 28th. Royal Bank Of Canada set a C$6.00 price objective on shares of Kraken Robotics and gave the stock a “moderate buy” rating in a report on Tuesday, September 15th. Finally, Raymond James Financial lowered their target price on shares of Kraken Robotics from C$11.00 to C$8.00 and set an “outperform” rating for the company in a research note on Friday, August 28th.

Insider Activity

In related news, Director Michael Shaun Mcewan sold 150,000 shares of the business’s stock in a transaction dated 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 C$1,568,323.08. This represents a 37.26% decrease in their position. Also, Director Donald Christopher Robertson acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were acquired at an average cost of C$6.05 per share, with a total value of C$60,500.00. Following the transaction, the director owned 10,000 shares in the company, valued at approximately C$60,500. The trade was a ∞ increase in their ownership of the stock. In the last three months, insiders sold 238,687 shares of company stock valued at $1,485,800. Company insiders own 10.13% of the company’s stock.

Kraken Robotics Trading Up 0.2%

CVE PNG opened at C$4.60 on Wednesday. The company has a market capitalization of C$1.71 billion, a price-to-earnings ratio of -230.00 and a beta of 0.84. The company has a debt-to-equity ratio of 16.99, a current ratio of 1.33 and a quick ratio of 0.64. Kraken Robotics has a 12 month low of C$4.25 and a 12 month high of C$10.72. The company’s fifty day moving average price is C$5.60 and its two-hundred day moving average price is C$7.05.

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.