Kraken Robotics Inc. (CVE:PNG) Stock Has Consensus Price Target of C$8.67

Shares of Kraken Robotics Inc. (CVE:PNG) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is C$8.67.

PNG has been the topic of a number of research analyst reports. Desjardins lowered their price target on Kraken Robotics from C$13.50 to C$13.00 and set a “buy” rating on the stock in a report on Friday, August 28th. Raymond James Financial cut their price objective on shares of Kraken Robotics from C$11.00 to C$8.00 and set an “outperform” rating for the company in a report on Friday, August 28th. Royal Bank Of Canada set a C$6.00 price objective on shares of Kraken Robotics and gave the company a “moderate buy” rating in a research report on Tuesday, September 15th. ATB Cormark Capital Markets raised shares of Kraken Robotics from a “strong sell” rating to a “hold” rating in a report on Friday, August 28th. Finally, National Bank Financial cut their target price on shares of Kraken Robotics from C$10.00 to C$8.00 and set an “outperform” rating for the company in a research note on Wednesday, October 21st.

Kraken Robotics Stock Performance

CVE PNG opened at C$3.56 on Thursday. The firm has a market cap of C$1.32 billion, a price-to-earnings ratio of -178.00 and a beta of 1.03. The company has a quick ratio of 0.64, a current ratio of 1.33 and a debt-to-equity ratio of 16.99. The business has a 50-day moving average price of C$4.50 and a 200-day moving average price of C$6.79. Kraken Robotics has a twelve month low of C$3.43 and a twelve month high of C$10.72.

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.