Kraken Robotics Inc. (CVE:PNG) Receives Consensus Recommendation of “Buy” from Analysts

Kraken Robotics Inc. (CVE:PNG) has been assigned a consensus rating of “Buy” from the six analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is C$4.60.

Several equities analysts have recently weighed in on PNG shares. Raymond James Financial lifted their price objective on Kraken Robotics from C$3.50 to C$4.00 and gave the company an “outperform” rating in a report on Friday, August 22nd. Desjardins lifted their price objective on Kraken Robotics from C$4.00 to C$5.00 and gave the company a “buy” rating in a report on Friday, August 22nd. Canaccord Genuity Group cut Kraken Robotics from a “strong-buy” rating to a “hold” rating and lifted their price objective for the company from C$3.50 to C$4.00 in a report on Thursday, July 24th. Scotiabank upgraded Kraken Robotics to a “strong-buy” rating in a report on Thursday, August 14th. Finally, National Bankshares lifted their price objective on Kraken Robotics from C$5.00 to C$7.50 and gave the company an “outperform” rating in a report on Thursday, October 23rd.

Kraken Robotics Price Performance

Shares of PNG opened at C$6.45 on Friday. The company has a current ratio of 2.78, a quick ratio of 0.64 and a debt-to-equity ratio of 34.32. Kraken Robotics has a 1 year low of C$1.93 and a 1 year high of C$7.44. The stock has a market cap of C$1.98 billion, a P/E ratio of 92.14 and a beta of 1.23. The stock’s 50-day moving average price is C$4.96 and its two-hundred day moving average price is C$3.65.

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.