Kraken Robotics Inc. (CVE:PNG) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Kraken Robotics Inc. (CVE:PNG) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating 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$8.75.

Several brokerages have issued reports on PNG. National Bank Financial raised Kraken Robotics from a “hold” rating to an “outperform” rating and increased their target price for the company from C$8.75 to C$13.00 in a research report on Friday, March 13th. ATB Cormark Capital Markets cut Kraken Robotics from a “hold” rating to a “strong sell” rating and upped their price objective for the stock from C$5.50 to C$6.50 in a research note on Friday, March 13th. Finally, Desjardins raised their price objective on Kraken Robotics from C$9.50 to C$14.00 and gave the company a “buy” rating in a research report on Friday, March 13th.

Kraken Robotics Price Performance

CVE PNG opened at C$8.00 on Wednesday. The company has a debt-to-equity ratio of 16.12, a quick ratio of 0.64 and a current ratio of 7.30. The firm’s 50 day moving average price is C$8.54 and its 200-day moving average price is C$6.89. Kraken Robotics has a 52-week low of C$2.06 and a 52-week high of C$10.72. The company has a market cap of C$2.45 billion, a PE ratio of 114.29 and a beta of 0.72.

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.