Kraken Robotics Inc. (CVE:PNG) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Kraken Robotics Inc. (CVE:PNG) has been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$8.67.

A number of research analysts recently weighed in on the stock. Desjardins lowered their price objective on shares of Kraken Robotics from C$13.50 to C$13.00 and set a “buy” rating on the stock in a research report on Friday, August 28th. Raymond James Financial cut their price objective on 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. Royal Bank Of Canada set a C$6.00 target price on shares of Kraken Robotics and gave the stock a “moderate buy” rating in a research note on Tuesday, September 15th. ATB Cormark Capital Markets upgraded shares of Kraken Robotics from a “strong sell” rating to a “hold” rating in a research note on Friday, August 28th. Finally, National Bank Financial lowered their price target on shares of Kraken Robotics from C$10.00 to C$8.00 and set an “outperform” rating on the stock in a report on Wednesday, October 21st.

Kraken Robotics Price Performance

Shares of CVE:PNG opened at C$3.56 on Thursday. The company has a debt-to-equity ratio of 16.99, a quick ratio of 0.64 and a current ratio of 1.33. The firm has a market cap of C$1.32 billion, a price-to-earnings ratio of -178.00 and a beta of 1.03. The business has a 50-day simple moving average of C$4.50 and a two-hundred day simple moving average of C$6.79. Kraken Robotics has a fifty-two week low of C$3.43 and a fifty-two 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.