National Bankshares Increases Kraken Robotics (CVE:PNG) Price Target to C$7.50

Key Points

• National Bankshares has increased the price target for Kraken Robotics from C$5.00 to C$7.50, indicating a potential upside of 7.76%.
• The consensus rating for Kraken Robotics among analysts is a "Buy," with an average target price of C$4.60.
• Despite the price target increase, Kraken Robotics' stock traded down 4.7% to C$6.96, with significant trading volume recorded.

Kraken Robotics (CVE:PNG - Get Free Report) had its price target upped by stock analysts at National Bankshares from C$5.00 to C$7.50 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. National Bankshares' target price would indicate a potential upside of 7.76% from the company's current price.

Several other analysts also recently issued reports on PNG. Desjardins boosted their price objective on Kraken Robotics from C$4.00 to C$5.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Scotiabank raised Kraken Robotics to a "strong-buy" rating in a research note on Thursday, August 14th. Canaccord Genuity Group cut Kraken Robotics from a "strong-buy" rating to a "hold" rating and lifted their target price for the company from C$3.50 to C$4.00 in a research note on Thursday, July 24th. Finally, Raymond James Financial lifted their target price on Kraken Robotics from C$3.50 to C$4.00 and gave the company an "outperform" rating in a research note on Friday, August 22nd. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of C$4.60.

Kraken Robotics Trading Down 4.7%

CVE PNG traded down C$0.34 on Thursday, hitting C$6.96. 2,185,254 shares of the company were exchanged, compared to its average volume of 1,163,172. The company's 50 day moving average price is C$4.52 and its 200-day moving average price is C$3.41. The company has a debt-to-equity ratio of 34.32, a current ratio of 2.78 and a quick ratio of 0.64. The firm has a market capitalization of C$2.13 billion, a P/E ratio of 99.43 and a beta of 1.23. Kraken Robotics has a twelve month low of C$1.61 and a twelve month high of C$7.44.

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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