Kraken Robotics Inc. (CVE:PNG) Given Consensus Rating of “Moderate Buy” by Brokerages

Kraken Robotics Inc. (CVE:PNG) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is C$9.00.

PNG has been the subject of a number of recent research reports. Desjardins cut their price target on 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. Royal Bank Of Canada set a C$6.00 price target on Kraken Robotics and gave the company an “outperform” rating in a research note on Tuesday. National Bank Financial dropped their price objective on Kraken Robotics to C$10.00 in a report on Friday, July 3rd. Scotia raised their price objective on shares of Kraken Robotics from C$9.00 to C$12.00 and gave the company a “sector outperform” rating in a research report on Friday, July 3rd. Finally, Raymond James Financial reduced 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.

Kraken Robotics Price Performance

Shares of CVE:PNG opened at C$4.42 on Wednesday. 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 1 year low of C$4.08 and a 1 year high of C$10.72. The business has a fifty day simple moving average of C$5.79 and a 200 day simple moving average of C$7.20. The firm has a market cap of C$1.64 billion, a price-to-earnings ratio of -221.00 and a beta of 0.84.

Insider Activity

In other Kraken Robotics news, Director Donald Christopher Robertson acquired 10,000 shares of Kraken Robotics stock in a transaction that occurred on Wednesday, July 8th. The stock was acquired at an average price of C$6.05 per share, with a total value of C$60,500.00. Following the purchase, the director owned 10,000 shares in the company, valued at approximately C$60,500. This trade represents a ∞ increase in their ownership of the stock. Also, insider Duane Joseph Alexander Mackay acquired 41,500 shares of Kraken Robotics stock in a transaction that occurred on Wednesday, July 8th. The stock was acquired at an average cost of C$6.00 per share, with a total value of C$249,000.00. Following the purchase, the insider owned 1,154,500 shares in the company, valued at C$6,927,000. The trade was a 3.73% increase in their position. In the last 90 days, insiders have sold 238,687 shares of company stock worth $1,485,800. 10.13% of the stock is owned by corporate insiders.

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.