Duane Joseph Alexander Mackay Acquires 41,500 Shares of Kraken Robotics (CVE:PNG) Stock

Kraken Robotics Inc. (CVE:PNG) insider Duane Joseph Alexander Mackay acquired 41,500 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 1,154,500 shares in the company, valued at approximately C$6,927,000. The trade was a 3.73% increase in their ownership of the stock.

Kraken Robotics Stock Down 0.3%

CVE:PNG traded down C$0.02 during midday trading on Wednesday, reaching C$6.05. 1,061,349 shares of the stock traded hands, compared to its average volume of 1,710,950. The stock has a market capitalization of C$1.86 billion, a PE ratio of 744.00 and a beta of 0.87. Kraken Robotics Inc. has a 12-month low of C$3.28 and a 12-month high of C$10.72. The company has a debt-to-equity ratio of 16.23, a quick ratio of 0.64 and a current ratio of 1.37. The business has a 50-day moving average of C$7.27 and a two-hundred day moving average of C$7.83.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PNG. Scotia raised their price objective on Kraken Robotics from C$9.00 to C$12.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 3rd. Desjardins reduced their target price on Kraken Robotics to C$13.50 and set a “buy” rating on the stock in a research report on Friday, July 3rd. National Bank Financial lowered their price target on Kraken Robotics to C$10.00 in a report on Friday, July 3rd. Finally, ATB Cormark Capital Markets dropped their price target on Kraken Robotics from C$6.50 to C$5.00 and set an “underperform” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$8.46.

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.