Kraken Robotics Inc. (CVE:PNG) Receives Average Rating of "Buy" from Brokerages

Key Points

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Kraken Robotics Inc. (CVE:PNG - Get Free Report) has earned a consensus rating of "Buy" from the six research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is C$3.70.

Several analysts recently weighed in on the stock. Canaccord Genuity Group downgraded shares of Kraken Robotics from a "strong-buy" rating to a "hold" rating and lifted their price objective for the company 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. Desjardins lifted their price objective on shares of Kraken Robotics from C$4.00 to C$5.00 and gave the company a "buy" rating in a research report on Friday. Finally, Raymond James Financial lifted their price objective on shares of Kraken Robotics from C$3.50 to C$4.00 and gave the company an "outperform" rating in a research report on Friday.

Kraken Robotics Stock Performance

CVE:PNG traded down C$0.05 during mid-day trading on Tuesday, hitting C$3.46. The stock had a trading volume of 1,164,907 shares, compared to its average volume of 1,041,058. The stock has a market capitalization of C$940.68 million, a price-to-earnings ratio of 91.55 and a beta of 1.15. The company has a 50 day simple moving average of C$3.35 and a 200-day simple moving average of C$2.74. Kraken Robotics has a 52 week low of C$1.38 and a 52 week high of C$3.93. The company has a current ratio of 2.78, a quick ratio of 0.64 and a debt-to-equity ratio of 34.32.

Insider Buying and Selling

In other Kraken Robotics news, Senior Officer Gregory Michael Reid sold 261,600 shares of the firm's 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. Insiders own 10.13% of the company's stock.

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.