Analysts Set Kraken Robotics Inc. (CVE:PNG) Target Price at C$4.60

Kraken Robotics Inc. (CVE:PNG) has earned an average rating of “Buy” from the six ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$4.60.

PNG has been the subject of a number of recent research reports. National Bankshares upped their price objective on shares of Kraken Robotics from C$5.00 to C$7.50 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Scotiabank upgraded Kraken Robotics to a “strong-buy” rating in a research note on Thursday, August 14th. Canaccord Genuity Group downgraded Kraken Robotics from a “strong-buy” rating to a “hold” rating and upped their price target for the stock from C$3.50 to C$4.00 in a research note on Thursday, July 24th. Raymond James Financial upped their price target on Kraken Robotics from C$3.50 to C$4.00 and gave the stock an “outperform” rating in a research note on Friday, August 22nd. Finally, Desjardins upped their target price on Kraken Robotics from C$4.00 to C$5.00 and gave the stock a “buy” rating in a research report on Friday, August 22nd.

Kraken Robotics Trading Down 3.7%

Kraken Robotics stock opened at C$5.69 on Friday. The company’s fifty day simple moving average is C$5.05 and its 200-day simple moving average is C$3.70. The company has a quick ratio of 0.64, a current ratio of 2.78 and a debt-to-equity ratio of 34.32. Kraken Robotics has a 12 month low of C$1.96 and a 12 month high of C$7.44. The stock has a market cap of C$1.74 billion, a P/E ratio of 81.29 and a beta of 1.07.

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.