Kraken Robotics Inc. (CVE:PNG) Receives C$9.00 Consensus Price Target from Analysts

Kraken Robotics Inc. (CVE:PNG) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is C$9.00.

Several research firms have weighed in on PNG. Scotia lifted their price target on shares of Kraken Robotics from C$9.00 to C$12.00 and gave the company a “sector outperform” rating in a research note on Friday, July 3rd. National Bank Financial decreased their target price on Kraken Robotics to C$10.00 in a research report on Friday, July 3rd. ATB Cormark Capital Markets raised Kraken Robotics from a “strong sell” rating to a “hold” rating in a research note on Friday, August 28th. Royal Bank Of Canada set a C$6.00 price target on Kraken Robotics and gave the stock a “moderate buy” rating in a report on Tuesday, September 15th. Finally, Desjardins decreased their price objective on Kraken Robotics from C$13.50 to C$13.00 and set a “buy” rating for the company in a report on Friday, August 28th.

Kraken Robotics Price Performance

Kraken Robotics stock opened at C$4.62 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 1.33 and a debt-to-equity ratio of 16.99. Kraken Robotics has a 12-month low of C$4.25 and a 12-month high of C$10.72. The firm’s fifty day moving average is C$5.68 and its 200 day moving average is C$7.11. The company has a market capitalization of C$1.72 billion, a PE ratio of -231.00 and a beta of 0.84.

Insider Buying and Selling at Kraken Robotics

In other Kraken Robotics news, insider Duane Joseph Alexander Mackay purchased 41,500 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was acquired at an average price of C$6.00 per share, for a total transaction of C$249,000.00. Following the purchase, the insider owned 1,154,500 shares of the company’s stock, valued at C$6,927,000. This trade represents a 3.73% increase in their position. Also, Director Donald Christopher Robertson acquired 10,000 shares of the stock in a transaction on Wednesday, July 8th. The shares were acquired at an average price of C$6.05 per share, for a total transaction of C$60,500.00. Following the acquisition, the director owned 10,000 shares of the company’s stock, valued at approximately C$60,500. The trade was a ? increase in their position. In the last 90 days, insiders sold 238,687 shares of company stock worth $1,485,800. 10.13% of the stock is owned by corporate insiders.

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.