Brokerages Set Kraken Robotics Inc. (CVE:PNG) PT at C$9.35

Kraken Robotics Inc. (CVE:PNG) has earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is C$9.35.

A number of equities analysts have weighed in on PNG shares. National Bank Financial cut their price target on shares of Kraken Robotics to C$10.00 in a research note on Friday, July 3rd. ATB Cormark Capital Markets lowered their price objective on shares of Kraken Robotics from C$6.50 to C$5.00 and set an “underperform” rating for the company in a research note on Tuesday, July 7th. Desjardins lowered their price objective on shares of Kraken Robotics to C$13.50 and set a “buy” rating for the company in a research note on Friday, July 3rd. Finally, Scotia upped their price objective on Kraken Robotics from C$9.00 to C$12.00 and gave the stock a “sector outperform” rating in a report on Friday, July 3rd.

Insider Buying and Selling at Kraken Robotics

In other news, insider Duane Joseph Alexander Mackay purchased 41,500 shares of the stock in a transaction on Wednesday, July 8th. The stock was purchased 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 owned 1,154,500 shares in the company, valued at approximately C$6,927,000. The trade was a 3.73% increase in their ownership of the stock. Also, Director Michael Shaun Mcewan sold 6,700 shares of the company’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of C$6.32, for a total value of C$42,344.00. Following the sale, the director owned 460,728 shares of the company’s stock, valued at C$2,911,800.96. This represents a 1.43% decrease in their ownership of the stock. Over the last 90 days, insiders sold 238,687 shares of company stock valued at $1,485,800. Company insiders own 10.13% of the company’s stock.

Kraken Robotics Price Performance

PNG opened at C$5.81 on Tuesday. Kraken Robotics has a 1 year low of C$3.28 and a 1 year high of C$10.72. The company’s 50 day simple moving average is C$6.78 and its 200 day simple moving average is C$7.73. The stock has a market capitalization of C$1.78 billion, a PE ratio of 744.00 and a beta of 0.87. The company has a debt-to-equity ratio of 16.23, a quick ratio of 0.64 and a current ratio of 1.37.

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. 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.