Kraken Robotics Inc. (CVE:PNG) Stock Has Consensus Target Price of C$9.00

Shares of Kraken Robotics Inc. (CVE:PNG) have received a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is C$9.00.

Several equities analysts recently issued reports on PNG shares. 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 note on Friday, July 3rd. ATB Cormark Capital Markets raised shares of Kraken Robotics from a “strong sell” rating to a “hold” rating in a report on Friday, August 28th. Desjardins lowered their target price on shares of Kraken Robotics from C$13.50 to C$13.00 and set a “buy” rating for the company in a research note on Friday, August 28th. 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. Finally, National Bank Financial dropped their target price on shares of Kraken Robotics to C$10.00 in a report on Friday, July 3rd.

Kraken Robotics Price Performance

Shares of PNG opened at C$3.98 on Friday. The firm has a market cap of C$1.48 billion, a price-to-earnings ratio of -199.00 and a beta of 1.03. The stock has a 50 day moving average of C$5.08 and a 200-day moving average of C$6.47. The company has a current ratio of 1.33, a quick ratio of 0.64 and a debt-to-equity ratio of 16.99. Kraken Robotics has a 52 week low of C$3.96 and a 52 week high of C$10.72.

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.