National Bankshares Forecasts Strong Price Appreciation for Kraken Robotics (CVE:PNG) Stock

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 target price lifted by research analysts at National Bankshares from C$4.00 to C$5.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. National Bankshares' price target would suggest a potential upside of 21.65% from the company's current price.

A number of other research analysts also recently commented on the company. Raymond James Financial increased their target price on Kraken Robotics from C$3.50 to C$4.00 and gave the company an "outperform" rating in a research report on Friday, August 22nd. Scotiabank upgraded Kraken Robotics to a "strong-buy" rating in a research report on Thursday, August 14th. Canaccord Genuity Group downgraded Kraken Robotics from a "strong-buy" rating to a "hold" rating and raised their price target for the stock from C$3.50 to C$4.00 in a research report on Thursday, July 24th. Finally, Desjardins lifted their target price on Kraken Robotics from C$4.00 to C$5.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Kraken Robotics has an average rating of "Buy" and a consensus target price of C$4.10.

Kraken Robotics Price Performance

PNG stock traded down C$0.08 during midday trading on Thursday, hitting C$4.11. The company's stock had a trading volume of 590,566 shares, compared to its average volume of 1,042,142. Kraken Robotics has a 12 month low of C$1.57 and a 12 month high of C$4.37. 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 firm has a market capitalization of C$1.26 billion, a price-to-earnings ratio of 58.71 and a beta of 0.91. The company has a 50 day moving average of C$3.58 and a two-hundred day moving average of C$2.88.

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.