Royal Bank Of Canada Analysts Give Kraken Robotics (CVE:PNG) a C$6.00 Price Target

Royal Bank Of Canada set a C$6.00 price objective on Kraken Robotics (CVE:PNG) in a research note published on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has a moderate buy rating on the stock.

A number of other research firms have also recently commented on PNG. ATB Cormark Capital Markets upgraded shares of Kraken Robotics from a “strong sell” rating to a “hold” rating in a research note on Friday, August 28th. Desjardins reduced their price objective on shares of Kraken Robotics from C$13.50 to C$13.00 and set a “buy” rating for the company in a research note on Friday, August 28th. Raymond James Financial decreased their price objective on shares of Kraken Robotics from C$11.00 to C$8.00 and set an “outperform” rating on the stock in a research report on Friday, August 28th. National Bank Financial lowered their target price on shares of Kraken Robotics to C$10.00 in a research note on Friday, July 3rd. Finally, Scotia lifted 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 note on Friday, July 3rd. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$9.00.

Kraken Robotics Price Performance

PNG stock opened at C$4.57 on Tuesday. The company has a debt-to-equity ratio of 16.99, a quick ratio of 0.64 and a current ratio of 1.33. The firm has a 50 day moving average price of C$5.72 and a 200-day moving average price of C$7.14. Kraken Robotics has a 52-week low of C$4.21 and a 52-week high of C$10.72. The firm has a market capitalization of C$1.70 billion, a price-to-earnings ratio of -228.50 and a beta of 0.84.

Insider Buying and Selling at Kraken Robotics

In other news, Director Michael Shaun Mcewan sold 150,000 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of C$6.21, for a total value of C$931,500.00. Following the sale, the director directly owned 252,548 shares in the company, valued at C$1,568,323.08. The trade was a 37.26% decrease in their position. Also, insider Duane Joseph Alexander Mackay bought 41,500 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were acquired at an average price of C$6.00 per share, for a total transaction of C$249,000.00. Following the completion of the transaction, the insider directly owned 1,154,500 shares in the company, valued at approximately C$6,927,000. This represents a 3.73% increase in their position. Insiders sold 238,687 shares of company stock worth $1,485,800 over the last 90 days. 10.13% of the stock is owned by 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.