Kraken Robotics (CVE:PNG) Downgraded by National Bankshares to “Sector Perform”

Kraken Robotics (CVE:PNG) was downgraded by equities research analysts at National Bankshares from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Wednesday,BayStreet.CA reports. They presently have a C$8.75 price target on the stock, up from their previous price target of C$7.50. National Bankshares’ price target points to a potential upside of 9.92% from the company’s current price.

PNG has been the subject of a number of other reports. Desjardins boosted their price target on shares of Kraken Robotics from C$5.00 to C$6.50 and gave the company a “buy” rating in a research report on Tuesday, November 25th. Cormark downgraded Kraken Robotics from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Finally, Raymond James Financial boosted their price objective on Kraken Robotics from C$4.00 to C$6.25 and gave the company an “outperform” rating in a research note on Tuesday, November 25th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$7.13.

Kraken Robotics Stock Down 8.5%

CVE:PNG traded down C$0.74 during trading hours on Wednesday, hitting C$7.96. The company’s stock had a trading volume of 2,786,606 shares, compared to its average volume of 2,414,313. The stock has a fifty day moving average of C$6.13 and a 200-day moving average of C$4.97. The company has a current ratio of 2.78, a quick ratio of 0.64 and a debt-to-equity ratio of 34.32. The stock has a market capitalization of C$2.44 billion, a P/E ratio of 113.71 and a beta of 0.95. Kraken Robotics has a 52-week low of C$2.06 and a 52-week high of C$8.93.

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. 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.