Kraken Robotics Inc. (CVE:PNG) Receives C$9.35 Average Price Target from Analysts

Shares of Kraken Robotics Inc. (CVE:PNG) have been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is C$9.35.

A number of research firms recently weighed in on PNG. National Bank Financial decreased their target price on Kraken Robotics to C$10.00 in a report on Friday, July 3rd. Desjardins lowered their price objective on Kraken Robotics to C$13.50 and set a “buy” rating on the stock in a research report on Friday, July 3rd. Scotia boosted 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, ATB Cormark Capital Markets decreased their price target on shares of Kraken Robotics from C$6.50 to C$5.00 and set an “underperform” rating on the stock in a research note on Tuesday, July 7th.

Insiders Place Their Bets

In other Kraken Robotics news, Director Donald Christopher Robertson bought 10,000 shares of the stock in a transaction dated Wednesday, July 8th. The shares were bought at an average cost of C$6.05 per share, with a total value of C$60,500.00. Following the completion of the acquisition, the director owned 10,000 shares of the company’s stock, valued at C$60,500. This trade represents a ? increase in their ownership of the stock. Also, Director Michael Shaun Mcewan sold 6,700 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of C$6.32, for a total transaction of C$42,344.00. Following the transaction, the director directly owned 460,728 shares in the company, valued at C$2,911,800.96. This represents a 1.43% decrease in their ownership of the stock. Insiders sold 238,687 shares of company stock worth $1,485,800 in the last quarter. 10.13% of the stock is currently owned by corporate insiders.

Kraken Robotics Price Performance

CVE:PNG opened at C$5.81 on Tuesday. Kraken Robotics has a 12-month low of C$3.28 and a 12-month high of C$10.72. The firm has a market capitalization of C$1.78 billion, a price-to-earnings ratio of 744.00 and a beta of 0.87. The stock’s 50 day moving average price is C$6.82 and its two-hundred day moving average price is C$7.76. The company has a quick ratio of 0.64, a current ratio of 1.37 and a debt-to-equity ratio of 16.23.

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.