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

Key Points

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Shares of Kraken Robotics Inc. (CVE:PNG - Get Free Report) have been given a consensus recommendation of "Buy" by the four research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, one has issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is C$3.38.

Several analysts recently issued reports on PNG shares. National Bankshares set a C$3.00 price target on shares of Kraken Robotics and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Canaccord Genuity Group lowered 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 report on Thursday, July 24th. Scotiabank upgraded shares of Kraken Robotics to a "strong-buy" rating in a research report on Thursday, August 14th. National Bank Financial upgraded shares of Kraken Robotics to a "strong-buy" rating in a research report on Wednesday, April 23rd. Finally, Desjardins upgraded shares of Kraken Robotics to a "moderate buy" rating in a research report on Monday, July 7th.

Insider Activity

In other news, Senior Officer Gregory Michael Reid sold 261,600 shares of Kraken Robotics stock in a transaction dated Friday, June 13th. The shares were 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 corporate insiders.

Kraken Robotics Stock Down 1.2%

Shares of PNG opened at C$3.77 on Tuesday. The firm's 50-day simple moving average is C$3.31 and its 200 day simple moving average is C$2.72. Kraken Robotics has a 52 week low of C$1.38 and a 52 week high of C$3.93. The firm has a market cap of C$1.02 billion, a P/E ratio of 99.75 and a beta of 1.15. The company has a debt-to-equity ratio of 34.32, a quick ratio of 0.64 and a current ratio of 2.78.

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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