Kraken Robotics (CVE:PNG) Stock Gets Price Target Reduction from National Bank Financial

Kraken Robotics (CVE:PNG) had its price target decreased by National Bank Financial from C$10.00 to C$8.00 in a research note released on Wednesday morning,BayStreet reports. National Bank Financial currently has an outperform rating on the stock.

A number of other analysts also recently commented 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. Raymond James Financial decreased their price objective on Kraken Robotics from C$11.00 to C$8.00 and set an “outperform” rating on the stock in a report on Friday, August 28th. Royal Bank Of Canada set a C$6.00 price objective on Kraken Robotics and gave the company a “moderate buy” rating in a research report on Tuesday, September 15th. ATB Cormark Capital Markets upgraded Kraken Robotics from a “strong sell” rating to a “hold” rating in a research note on Friday, August 28th. Finally, Desjardins reduced their target price on Kraken Robotics from C$13.50 to C$13.00 and set a “buy” rating for the company in a research report on Friday, August 28th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$8.67.

Kraken Robotics Stock Down 1.9%

Shares of PNG opened at C$4.07 on Wednesday. The company has a 50-day simple moving average of C$4.81 and a 200-day simple moving average of C$6.32. The firm has a market capitalization of C$1.51 billion, a P/E ratio of -203.50 and a beta of 1.03. The company has a debt-to-equity ratio of 16.99, a quick ratio of 0.64 and a current ratio of 1.33. Kraken Robotics has a 52 week low of C$3.77 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.