Kraken Robotics (CVE:PNG) Price Target Cut to C$13.50 by Analysts at Desjardins

Kraken Robotics (CVE:PNG) had its price objective lowered by research analysts at Desjardins to C$13.50 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ target price would indicate a potential upside of 100.59% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. Scotia upped their price target on shares of Kraken Robotics from C$9.00 to C$12.00 and gave the stock a “sector outperform” rating in a research report on Friday. ATB Cormark Capital Markets downgraded shares of Kraken Robotics from a “hold” rating to a “strong sell” rating and raised their price objective for the company from C$5.50 to C$6.50 in a research report on Friday, March 13th. Finally, National Bank Financial lowered their target price on shares of Kraken Robotics to C$10.00 in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Kraken Robotics has a consensus rating of “Moderate Buy” and a consensus target price of C$8.71.

Kraken Robotics Stock Performance

Kraken Robotics stock traded up C$0.36 during midday trading on Friday, hitting C$6.73. The stock had a trading volume of 811,261 shares, compared to its average volume of 1,712,016. Kraken Robotics has a 52-week low of C$3.00 and a 52-week high of C$10.72. The company has a market capitalization of C$2.07 billion, a PE ratio of 744.00 and a beta of 0.71. The firm’s fifty day moving average is C$7.38 and its two-hundred day moving average is C$7.82. The company has a current ratio of 1.37, a quick ratio of 0.64 and a debt-to-equity ratio of 16.23.

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.