Kraken Robotics Inc. (CVE:PNG) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts give Kraken Robotics a “Moderate Buy” consensus: Of seven covering brokerages, four rate the stock a buy, one a strong buy, one a hold and one a sell. The average 12-month price target is C$9.35.
• Price targets were mixed: ATB Cormark lowered its target to C$5.00 with an underperform rating, while Desjardins, Scotia and National Bank set targets of C$13.50, C$12.00 and C$10.00, respectively.
• Insiders recently bought shares, including a 41,500-share purchase by insider Duane Mackay and a 10,000-share purchase by director Donald Robertson. The stock opened at C$6.16, versus a 52-week range of C$3.28 to C$10.72.

Shares of Kraken Robotics Inc. (CVE:PNG - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is C$9.35.

PNG has been the topic of several analyst reports. ATB Cormark Capital Markets cut their price objective on shares of Kraken Robotics from C$6.50 to C$5.00 and set an "underperform" rating on the stock in a report on Tuesday, July 7th. Desjardins lowered their target price on shares of Kraken Robotics to C$13.50 and set a "buy" rating for the company in a report on Friday, July 3rd. Scotia upped their target price 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. Finally, National Bank Financial cut their price target on Kraken Robotics to C$10.00 in a research note on Friday, July 3rd.

Insider Activity at Kraken Robotics

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

Kraken Robotics Stock Performance

Kraken Robotics stock opened at C$6.16 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 0.64 and a debt-to-equity ratio of 16.23. Kraken Robotics has a 1 year low of C$3.28 and a 1 year high of C$10.72. The company has a market cap of C$1.89 billion, a PE ratio of 744.00 and a beta of 0.87. The company's 50-day moving average is C$6.96 and its two-hundred day moving average is C$7.81.

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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