Desjardins Forecasts Strong Price Appreciation for Kraken Robotics (CVE:PNG) Stock

Kraken Robotics (CVE:PNG) had its price target raised by analysts at Desjardins from C$9.50 to C$14.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price target would suggest a potential upside of 47.68% from the company’s current price.

A number of other research analysts have also recently issued reports on PNG. National Bank Financial cut shares of Kraken Robotics from an “outperform” rating to a “hold” rating and lifted their price objective for the company from C$7.50 to C$8.75 in a report on Wednesday, January 14th. Raymond James Financial upped their target price on shares of Kraken Robotics from C$4.00 to C$6.25 and gave the stock an “outperform” rating in a report on Tuesday, November 25th. Finally, Cormark cut shares of Kraken Robotics from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Kraken Robotics presently has a consensus rating of “Moderate Buy” and a consensus target price of C$8.75.

Kraken Robotics Stock Performance

Shares of PNG stock opened at C$9.48 on Friday. The firm has a market capitalization of C$2.91 billion, a PE ratio of 135.43 and a beta of 0.72. The firm has a fifty day simple moving average of C$8.28 and a two-hundred day simple moving average of C$6.42. The company has a current ratio of 7.30, a quick ratio of 0.64 and a debt-to-equity ratio of 16.12. Kraken Robotics has a 12 month low of C$2.06 and a 12 month high of C$10.72.

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. 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.