Kraken Robotics (CVE:PNG) Given a C$6.00 Price Target by Royal Bank Of Canada Analysts

Key Points

• Royal Bank of Canada set a C$6.00 price target for Kraken Robotics and maintained an “outperform” rating, implying 33.93% upside from the stock’s C$4.48 price.
• Analyst sentiment remains positive overall: five analysts rate the stock “Buy” and two rate it “Hold,” producing a “Moderate Buy” consensus and an average price target of C$9.00.
• Kraken Robotics shares have declined below their 50-day and 200-day moving averages, while insiders own 10.13% of the company; recent insider purchases were offset by about C$1.49 million in insider sales over the past 90 days.

Kraken Robotics (CVE:PNG - Get Free Report) has been given a C$6.00 target price by stock analysts at Royal Bank Of Canada in a research note issued to investors on Tuesday, BayStreet reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's target price suggests a potential upside of 33.93% from the company's current price.

Other equities research analysts have also recently issued research reports about the stock. Desjardins cut their price objective on shares of Kraken Robotics from C$13.50 to C$13.00 and set a "buy" rating for the company in a research note on Friday, August 28th. Raymond James Financial decreased their target price on shares of Kraken Robotics from C$11.00 to C$8.00 and set an "outperform" rating on the stock in a research report on Friday, August 28th. Scotia boosted 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 note on Friday, July 3rd. National Bank Financial cut their price target on shares of Kraken Robotics to C$10.00 in a research report on Friday, July 3rd. Finally, ATB Cormark Capital Markets raised Kraken Robotics from a "strong sell" rating to a "hold" rating in a research note on Friday, August 28th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Kraken Robotics has an average rating of "Moderate Buy" and an average price target of C$9.00.

Kraken Robotics Price Performance

CVE:PNG traded down C$0.17 during mid-day trading on Tuesday, reaching C$4.48. The stock had a trading volume of 689,253 shares, compared to its average volume of 1,553,576. The stock has a market capitalization of C$1.66 billion, a P/E ratio of -224.00 and a beta of 0.84. The firm has a 50 day moving average price of C$5.82 and a two-hundred day moving average price of C$7.23. The company has a debt-to-equity ratio of 16.99, a quick ratio of 0.64 and a current ratio of 1.33. Kraken Robotics has a one year low of C$4.08 and a one year high of C$10.72.

Insider Transactions at Kraken Robotics

In other Kraken Robotics news, insider Duane Joseph Alexander Mackay purchased 41,500 shares of the stock in a transaction on Wednesday, July 8th. The stock was acquired at an average price of C$6.00 per share, with a total value of C$249,000.00. Following the transaction, the insider directly owned 1,154,500 shares of the company's stock, valued at approximately C$6,927,000. This trade represents a 3.73% increase in their position. Also, Director Donald Christopher Robertson acquired 10,000 shares of the company's stock in a transaction on Wednesday, July 8th. The stock was acquired at an average price of C$6.05 per share, with a total value of C$60,500.00. Following the acquisition, the director owned 10,000 shares in the company, valued at approximately C$60,500. This trade represents a ∞ increase in their position. Over the last ninety days, insiders sold 238,687 shares of company stock worth $1,485,800. Company insiders own 10.13% of the company's stock.

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.

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