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

Key Points

• Kraken Robotics Inc. has received a consensus rating of "Buy" from six research firms, with varying recommendations including one hold, three buys, and two strong buys.
• The average twelve-month price target for Kraken Robotics among analysts is C$4.10, with some firms recently raising their target to as high as C$5.00.
• The stock has experienced a slight decline of 1.4%, currently trading at C$4.18, and has a twelve-month range from a low of C$1.56 to a high of C$4.37.

Shares of Kraken Robotics Inc. (CVE:PNG - Get Free Report) have received a consensus rating of "Buy" from the six analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$4.10.

Several brokerages have issued reports on PNG. Desjardins lifted their price target on Kraken Robotics from C$4.00 to C$5.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. Canaccord Genuity Group downgraded shares of Kraken Robotics from a "strong-buy" rating to a "hold" rating and increased their price target for the stock from C$3.50 to C$4.00 in a research note on Thursday, July 24th. Scotiabank upgraded shares of Kraken Robotics to a "strong-buy" rating in a research note on Thursday, August 14th. National Bankshares raised their price objective on Kraken Robotics from C$4.00 to C$5.00 and gave the company an "outperform" rating in a research report on Thursday, September 11th. Finally, Raymond James Financial lifted their target price on Kraken Robotics from C$3.50 to C$4.00 and gave the stock an "outperform" rating in a report on Friday, August 22nd.

Kraken Robotics Price Performance

Shares of PNG stock traded up C$0.04 during trading on Friday, hitting C$4.26. The company had a trading volume of 288,151 shares, compared to its average volume of 1,035,032. Kraken Robotics has a 52 week low of C$1.60 and a 52 week 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 stock has a market capitalization of C$1.30 billion, a price-to-earnings ratio of 60.86 and a beta of 0.91. The stock's 50-day moving average is C$3.61 and its two-hundred day moving average is C$2.89.

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.