Analysts Set Kraken Robotics Inc. (CVE:PNG) Target Price at C$9.35

Kraken Robotics Inc. (CVE:PNG) has earned an average rating of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is C$9.60.

Several equities analysts recently weighed in on PNG shares. National Bank Financial cut their price target on shares of Kraken Robotics to C$10.00 in a report on Friday, July 3rd. Scotia lifted 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 note on Friday, July 3rd. Desjardins dropped 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 report on Friday. Raymond James Financial cut their price objective on shares of Kraken Robotics from C$11.00 to C$8.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, ATB Cormark Capital Markets raised shares of Kraken Robotics from a “strong sell” rating to a “hold” rating in a report on Friday.

Insider Buying and Selling at Kraken Robotics

In other Kraken Robotics news, Director Michael Shaun Mcewan sold 6,700 shares of the stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of C$6.32, for a total transaction of C$42,344.00. Following the sale, the director directly owned 460,728 shares of the company’s stock, valued at approximately C$2,911,800.96. This trade represents a 1.43% decrease in their position. Also, Director Donald Christopher Robertson acquired 10,000 shares of Kraken Robotics stock in a transaction on Wednesday, July 8th. The shares were bought at an average price of C$6.05 per share, with a total value of C$60,500.00. Following the purchase, the director directly owned 10,000 shares in the company, valued at approximately C$60,500. The trade was a ∞ increase in their position. Over the last three months, insiders have sold 238,687 shares of company stock valued at $1,485,800. 10.13% of the stock is owned by insiders.

Kraken Robotics Trading Down 1.1%

Kraken Robotics stock opened at C$5.34 on Friday. The stock has a 50-day moving average price of C$6.18 and a 200 day moving average price of C$7.46. The company has a market capitalization of C$1.64 billion, a price-to-earnings ratio of 744.00 and a beta of 0.91. Kraken Robotics has a 52 week low of C$3.31 and a 52 week high of C$10.72. The company has a quick ratio of 0.64, a current ratio of 1.37 and a debt-to-equity ratio of 16.23.

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.