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

Key Points

• Analysts have given Kraken Robotics a consensus rating of "Moderate Buy" from seven brokerages, with the breakdown being one sell, two holds, three buys and one strong buy, and an average 1‑year price target of C$8.75.
• Recent divergent analyst actions on March 13 include National Bank Financial upgrading to Outperform and raising its target to C$13, Desjardins raising its target to C$14 with a Buy rating, while ATB Cormark downgraded to Strong Sell but set a C$6.50 target.
• The stock opened at C$8.05, has a market cap of C$2.47 billion and an extremely high trailing PE of 805, with a 1‑year range of C$2.24 to C$10.72 and 50/200‑day moving averages of C$8.69/C$7.35 respectively.

Shares of Kraken Robotics Inc. (CVE:PNG - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seven brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$8.75.

Several brokerages recently weighed in on PNG. National Bank Financial raised Kraken Robotics from a "hold" rating to an "outperform" rating and increased their price target for the stock from C$8.75 to C$13.00 in a report on Friday, March 13th. ATB Cormark Capital Markets downgraded Kraken Robotics from a "hold" rating to a "strong sell" rating and increased their price target for the stock from C$5.50 to C$6.50 in a report on Friday, March 13th. Finally, Desjardins increased their price target on Kraken Robotics from C$9.50 to C$14.00 and gave the stock a "buy" rating in a report on Friday, March 13th.

Kraken Robotics Price Performance

Shares of CVE PNG opened at C$8.05 on Friday. The company has a debt-to-equity ratio of 15.94, a current ratio of 5.53 and a quick ratio of 0.64. The stock has a fifty day moving average price of C$8.69 and a 200 day moving average price of C$7.35. Kraken Robotics has a 1-year low of C$2.24 and a 1-year high of C$10.72. The company has a market cap of C$2.47 billion, a PE ratio of 805.00 and a beta of 0.80.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.