Kraken Robotics (CVE:PNG) Given New C$5.00 Price Target at National Bankshares

Key Points

• Kraken Robotics has seen its price target increased from C$4.00 to C$5.00 by National Bankshares, indicating a potential upside of 16.41% from its current price.
• The company currently holds a consensus rating of "Buy", with six analysts rating it either "Buy" or "Strong Buy."
• On the trading day mentioned, Kraken Robotics' stock rose 4.8%, reaching C$4.30, with over 1.1 million shares traded.

Kraken Robotics (CVE:PNG - Get Free Report) had its price objective increased by stock analysts at National Bankshares from C$4.00 to C$5.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. National Bankshares' price objective would indicate a potential upside of 16.41% from the company's current price.

PNG has been the topic of a number of other reports. Canaccord Genuity Group cut Kraken Robotics from a "strong-buy" rating to a "hold" rating and raised their price target for the company from C$3.50 to C$4.00 in a research note on Thursday, July 24th. Raymond James Financial raised their target price on Kraken Robotics from C$3.50 to C$4.00 and gave the stock an "outperform" rating in a research report on Friday, August 22nd. Desjardins upped their price target on Kraken Robotics from C$4.00 to C$5.00 and gave the company a "buy" rating in a report on Friday, August 22nd. Finally, Scotiabank raised shares of Kraken Robotics to a "strong-buy" rating in a report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of C$4.10.

Kraken Robotics Stock Up 4.8%

CVE PNG traded up C$0.20 on Thursday, hitting C$4.30. 1,148,291 shares of the stock were exchanged, compared to its average volume of 1,043,096. Kraken Robotics has a fifty-two week low of C$1.54 and a fifty-two week high of C$4.37. The company has a 50-day moving average price of C$3.51 and a 200-day moving average price of C$2.83. The company has a quick ratio of 0.64, a current ratio of 2.78 and a debt-to-equity ratio of 34.32. The company has a market cap of C$1.32 billion, a PE ratio of 61.36 and a beta of 0.91.

Insider Transactions at Kraken Robotics

In other Kraken Robotics news, Senior Officer Gregory Michael Reid sold 261,600 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of C$2.88, for a total transaction of C$753,408.00. 10.13% of the stock is owned by company insiders.

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.

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