Kraken Robotics Inc. (CVE:PNG) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analyst consensus is “Moderate Buy”: Five of seven analysts recommend buying Kraken Robotics, while two rate it a hold. The average 12-month price target is C$9.00.
• Price targets have shifted significantly: Recent revisions ranged from Scotia raising its target to C$12.00 to Raymond James cutting its target to C$8.00; other firms also adjusted targets lower.
• The stock is trading near its annual low: Kraken opened at C$4.42, versus a 1-year range of C$4.08 to C$10.72. Insider activity was mixed, with one executive buying shares while a director and other insiders sold stock over the past 90 days.

Shares of Kraken Robotics Inc. (CVE:PNG - Get Free Report) have been assigned an average rating of "Moderate Buy" from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is C$9.00.

Several research firms have recently weighed in on PNG. Raymond James Financial dropped 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 lifted their price objective 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, July 3rd. ATB Cormark Capital Markets raised shares of Kraken Robotics from a "strong sell" rating to a "hold" rating in a research note on Friday, August 28th. Desjardins reduced their target price on Kraken Robotics from C$13.50 to C$13.00 and set a "buy" rating for the company in a report on Friday, August 28th. Finally, National Bank Financial decreased their target price on Kraken Robotics to C$10.00 in a research report on Friday, July 3rd.

Kraken Robotics Price Performance

CVE PNG opened at C$4.42 on Wednesday. The stock's 50-day moving average price is C$5.79 and its two-hundred day moving average price is C$7.20. The company has a current ratio of 1.33, a quick ratio of 0.64 and a debt-to-equity ratio of 16.99. The company has a market cap of C$1.64 billion, a PE ratio of -221.00 and a beta of 0.84. Kraken Robotics has a 1 year low of C$4.08 and a 1 year high of C$10.72.

Insider Activity at Kraken Robotics

In other Kraken Robotics news, insider Duane Joseph Alexander Mackay bought 41,500 shares of the stock in a transaction on Wednesday, July 8th. The shares were bought at an average price of C$6.00 per share, with a total value of C$249,000.00. Following the purchase, the insider directly owned 1,154,500 shares in the company, valued at C$6,927,000. The trade was a 3.73% increase in their position. Also, Director Michael Shaun Mcewan sold 150,000 shares of the company's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of C$6.21, for a total value of C$931,500.00. Following the completion of the transaction, the director owned 252,548 shares in the company, valued at C$1,568,323.08. This represents a 37.26% decrease in their position. Over the last ninety days, insiders have sold 238,687 shares of company stock valued at $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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