Brokerages Set Kraken Robotics Inc. (CVE:PNG) Price Target at C$8.75

Kraken Robotics Inc. (CVE:PNG) has been given an average rating of “Moderate Buy” by the seven research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is C$8.75.

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

Kraken Robotics Stock Performance

Shares of PNG opened at C$8.37 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. Kraken Robotics has a 52-week low of C$2.06 and a 52-week high of C$10.72. The firm has a market cap of C$2.57 billion, a price-to-earnings ratio of 119.57 and a beta of 0.80. The business’s fifty day moving average is C$8.57 and its 200-day moving average is C$6.98.

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.