Kraken Robotics (CVE:PNG) Stock Price Expected to Rise, Desjardins Analyst Says

Kraken Robotics (CVE:PNG) had its price objective hoisted by equities research analysts at Desjardins from C$6.50 to C$9.50 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ target price would suggest a potential upside of 19.35% from the stock’s previous close.

PNG has been the subject of a number of other reports. Raymond James Financial lifted their price target on shares of Kraken Robotics from C$4.00 to C$6.25 and gave the company an “outperform” rating in a research report on Tuesday, November 25th. National Bankshares lowered Kraken Robotics from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from C$7.50 to C$8.75 in a research note on Wednesday. Finally, Cormark downgraded Kraken Robotics from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Kraken Robotics currently has a consensus rating of “Moderate Buy” and an average target price of C$7.13.

Kraken Robotics Stock Performance

CVE:PNG traded down C$0.74 during mid-day trading on Wednesday, reaching C$7.96. 2,786,606 shares of the company’s stock were exchanged, compared to its average volume of 2,414,313. Kraken Robotics has a one year low of C$2.06 and a one year high of C$8.93. The company has a debt-to-equity ratio of 34.32, a quick ratio of 0.64 and a current ratio of 2.78. The business’s fifty day simple moving average is C$6.13 and its two-hundred day simple moving average is C$4.97. The firm has a market capitalization of C$2.44 billion, a PE ratio of 113.71 and a beta of 0.95.

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.