Kraken Robotics (CVE:PNG) Price Target Raised to C$7.50

Kraken Robotics (CVE:PNG) had its price target hoisted by National Bankshares from C$5.00 to C$7.50 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also issued reports on PNG. Scotiabank upgraded Kraken Robotics to a “strong-buy” rating in a research note on Thursday, August 14th. Raymond James Financial lifted their price target on Kraken Robotics from C$3.50 to C$4.00 and gave the company an “outperform” rating in a research note on Friday, August 22nd. Canaccord Genuity Group lowered Kraken Robotics from a “strong-buy” rating to a “hold” rating and lifted their price target for the company from C$3.50 to C$4.00 in a research note on Thursday, July 24th. Finally, Desjardins lifted their price target on Kraken Robotics from C$4.00 to C$5.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Kraken Robotics has a consensus rating of “Buy” and an average target price of C$4.60.

Kraken Robotics Stock Performance

PNG opened at C$6.77 on Thursday. The firm has a market cap of C$2.07 billion, a P/E ratio of 96.71 and a beta of 1.23. Kraken Robotics has a 52-week low of C$1.69 and a 52-week high of C$7.44. The company has a debt-to-equity ratio of 34.32, a quick ratio of 0.64 and a current ratio of 2.78. The business’s fifty day moving average is C$4.64 and its 200-day moving average is C$3.48.

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.