Cormark Downgrades Kraken Robotics (CVE:PNG) to Hold

Kraken Robotics (CVE:PNG) was downgraded by research analysts at Cormark from a “moderate buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports. Cormark also issued estimates for Kraken Robotics’ FY2025 earnings at $0.04 EPS and FY2026 earnings at $0.13 EPS.

A number of other research firms have also commented on PNG. Scotiabank upgraded shares of Kraken Robotics to a “strong-buy” rating in a research report on Thursday, August 14th. National Bankshares lifted their price objective on Kraken Robotics from C$5.00 to C$7.50 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Desjardins boosted their target price on Kraken Robotics from C$5.00 to C$6.50 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Raymond James Financial upped their target price on Kraken Robotics from C$4.00 to C$6.25 and gave the stock an “outperform” rating in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$6.06.

Kraken Robotics Price Performance

Shares of CVE:PNG opened at C$6.00 on Tuesday. The company has a 50 day moving average of C$5.57 and a 200 day moving average of C$4.02. The company has a current ratio of 2.78, a quick ratio of 0.64 and a debt-to-equity ratio of 34.32. The stock has a market cap of C$1.84 billion, a P/E ratio of 85.71 and a beta of 1.07. Kraken Robotics has a 12 month low of C$1.98 and a 12 month high of C$7.44.

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.