Kraken Robotics (CVE:PNG) Stock Price Expected to Rise, Desjardins Analyst Says

Key Points

• Desjardins raised its price objective on Kraken Robotics from C$9.50 to C$14.00 and maintained a "buy" rating, implying roughly a 48.6% upside from the prior close.
• Analyst sentiment is mixed but tilted positive with an average rating of "Moderate Buy" and a consensus target of C$8.75 (1 Strong Buy, 3 Buy, 2 Hold, 1 Sell).
• Shares traded near C$9.42 mid-day, with a market cap of C$2.89 billion, a 52‑week range of C$2.06–C$10.72, and a high PE of about 134.6, signaling an elevated valuation.

Kraken Robotics (CVE:PNG - Get Free Report) had its price objective raised by research analysts at Desjardins from C$9.50 to C$14.00 in a research report issued on Friday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Desjardins' target price indicates a potential upside of 48.62% from the company's previous close.

Several other equities research analysts have also issued reports on PNG. Raymond James Financial lifted their price target on Kraken Robotics from C$4.00 to C$6.25 and gave the stock an "outperform" rating in a research note on Tuesday, November 25th. Cormark cut Kraken Robotics from a "moderate buy" rating to a "hold" rating in a report on Tuesday, November 25th. Finally, National Bank Financial downgraded Kraken Robotics from an "outperform" rating to a "hold" rating and boosted their target price for the stock from C$7.50 to C$8.75 in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$8.75.

Kraken Robotics Price Performance

Shares of CVE PNG traded down C$0.20 during mid-day trading on Friday, reaching C$9.42. 1,628,793 shares of the company were exchanged, compared to its average volume of 2,037,315. Kraken Robotics has a 52 week low of C$2.06 and a 52 week high of C$10.72. The company's 50 day moving average price is C$8.23 and its 200 day moving average price is C$6.36. The stock has a market capitalization of C$2.89 billion, a PE ratio of 134.57 and a beta of 0.72. The company has a quick ratio of 0.64, a current ratio of 7.30 and a debt-to-equity ratio of 16.12.

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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