Kraken Robotics (CVE:PNG) Insider Duane Joseph Alexander Mackay Buys 41,500 Shares

Kraken Robotics Inc. (CVE:PNG) insider Duane Joseph Alexander Mackay acquired 41,500 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were bought at an average cost of C$6.00 per share, for a total transaction of C$249,000.00. Following the completion of the acquisition, the insider owned 1,154,500 shares of the company’s stock, valued at approximately C$6,927,000. This represents a 3.73% increase in their ownership of the stock.

Kraken Robotics Stock Down 0.3%

Shares of CVE PNG opened at C$6.05 on Thursday. The firm has a market cap of C$1.86 billion, a price-to-earnings ratio of 744.00 and a beta of 0.87. The company’s 50-day simple moving average is C$7.23 and its 200-day simple moving average is C$7.83. The company has a quick ratio of 0.64, a current ratio of 1.37 and a debt-to-equity ratio of 16.23. Kraken Robotics Inc. has a 52-week low of C$3.28 and a 52-week high of C$10.72.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PNG shares. National Bank Financial cut their price objective on Kraken Robotics to C$10.00 in a research note on Friday, July 3rd. ATB Cormark Capital Markets decreased their target price on Kraken Robotics from C$6.50 to C$5.00 and set an “underperform” rating on the stock in a research report on Tuesday. Desjardins lowered their price target on Kraken Robotics to C$13.50 and set a “buy” rating on the stock in a research note on Friday, July 3rd. Finally, Scotia boosted their price target on Kraken Robotics from C$9.00 to C$12.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Kraken Robotics presently has an average rating of “Moderate Buy” and an average price target of C$8.46.

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.