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

Key Points

• Kraken Robotics has a “Moderate Buy” consensus rating from six analysts: four buys, one hold and one sell. The average 12-month price target is C$9.35.
• Analyst price targets were mixed, ranging from C$5.00 with an “underperform” rating to C$13.50 with a “buy” rating, reflecting differing views on the stock’s outlook.
• Company insiders recently bought shares, including a 41,500-share purchase by Duane Joseph Alexander Mackay and a 10,000-share purchase by director Donald Christopher Robertson. Kraken Robotics opened at C$5.96, compared with a 52-week range of C$3.31 to C$10.72.

Kraken Robotics Inc. (CVE:PNG - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is C$9.35.

Several brokerages have issued reports on PNG. Scotia upped their price target on shares of Kraken Robotics from C$9.00 to C$12.00 and gave the company a "sector outperform" rating in a research report on Friday, July 3rd. Desjardins reduced their price objective on shares of Kraken Robotics to C$13.50 and set a "buy" rating on the stock in a research note on Friday, July 3rd. ATB Cormark Capital Markets lowered their target price on Kraken Robotics from C$6.50 to C$5.00 and set an "underperform" rating for the company in a research report on Tuesday, July 7th. Finally, National Bank Financial cut their target price on Kraken Robotics to C$10.00 in a report on Friday, July 3rd.

Insider Transactions at Kraken Robotics

In related news, Director Donald Christopher Robertson acquired 10,000 shares of the business's stock in a transaction dated Wednesday, July 8th. The shares were bought at an average price of C$6.05 per share, with a total value of C$60,500.00. Following the transaction, the director directly owned 10,000 shares of the company's stock, valued at C$60,500. This trade represents a ∞ increase in their ownership of the stock. Also, insider Duane Joseph Alexander Mackay bought 41,500 shares of Kraken Robotics stock in a transaction dated Wednesday, July 8th. The stock was purchased at an average price of C$6.00 per share, with a total value of C$249,000.00. Following the completion of the purchase, the insider owned 1,154,500 shares in the company, valued at C$6,927,000. This trade represents a 3.73% increase in their ownership of the stock. Insiders have sold 238,687 shares of company stock valued at $1,485,800 in the last 90 days. 10.13% of the stock is currently owned by corporate insiders.

Kraken Robotics Price Performance

Kraken Robotics stock opened at C$5.96 on Friday. The company has a debt-to-equity ratio of 16.23, a quick ratio of 0.64 and a current ratio of 1.37. Kraken Robotics has a 52 week low of C$3.31 and a 52 week high of C$10.72. The stock has a market capitalization of C$1.83 billion, a P/E ratio of 744.00 and a beta of 0.91. The stock has a fifty day moving average of C$6.35 and a 200-day moving average of C$7.54.

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. 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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