Kraken Robotics (CVE:PNG) Price Target Raised to C$9.50

Kraken Robotics (CVE:PNG) had its target price lifted by stock analysts at Desjardins from C$6.50 to C$9.50 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ target price points to a potential upside of 19.35% from the company’s previous close.

Several other equities research analysts have also recently weighed in on PNG. Raymond James Financial increased their price objective on shares of Kraken Robotics from C$4.00 to C$6.25 and gave the stock an “outperform” rating in a research report on Tuesday, November 25th. National Bankshares cut shares of Kraken Robotics from an “outperform” rating to a “sector perform” rating and upped their price target for the company from C$7.50 to C$8.75 in a research report on Wednesday. Finally, Cormark lowered Kraken Robotics from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$7.13.

Kraken Robotics Trading Down 8.5%

Shares of PNG stock traded down C$0.74 on Wednesday, hitting C$7.96. The company had a trading volume of 2,786,606 shares, compared to its average volume of 2,414,313. The firm has a market cap of C$2.44 billion, a P/E ratio of 113.71 and a beta of 0.95. The stock’s 50-day moving average is C$6.13 and its two-hundred day moving average is C$4.97. The company has a debt-to-equity ratio of 34.32, a quick ratio of 0.64 and a current ratio of 2.78. Kraken Robotics has a twelve month low of C$2.06 and a twelve month high of C$8.93.

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.