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

Kraken Robotics Inc. (CVE:PNG) has earned an average rating of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$8.71.

Several equities analysts have commented on PNG shares. Desjardins lowered their target price on shares of Kraken Robotics to C$13.50 and set a “buy” rating on the stock in a research note on Friday. ATB Cormark Capital Markets cut shares of Kraken Robotics from a “hold” rating to a “strong sell” rating and increased their price objective for the company from C$5.50 to C$6.50 in a report on Friday, March 13th. National Bank Financial lowered their price objective on shares of Kraken Robotics to C$10.00 in a research note on Friday. Finally, Scotia boosted their target price on Kraken Robotics from C$9.00 to C$12.00 and gave the stock a “sector outperform” rating in a report on Friday.

Kraken Robotics Stock Performance

Shares of CVE PNG traded up C$0.37 during midday trading on Friday, reaching C$6.74. 971,122 shares of the company traded hands, compared to its average volume of 1,713,086. The company has a market cap of C$2.07 billion, a price-to-earnings ratio of 744.00 and a beta of 0.71. The stock has a 50-day moving average price of C$7.38 and a 200 day moving average price of C$7.82. Kraken Robotics has a 52 week low of C$3.00 and a 52 week high of C$10.72. The company has a debt-to-equity ratio of 16.23, a current ratio of 1.37 and a quick ratio of 0.64.

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.