Kraken Robotics Inc. (CVE:PNG) Receives Consensus Rating of “Moderate Buy” from Brokerages

Kraken Robotics Inc. (CVE:PNG) has earned a consensus rating of “Moderate Buy” from the six analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is C$9.35.

A number of research firms recently weighed in on PNG. Scotia upped their target price on shares of Kraken Robotics from C$9.00 to C$12.00 and gave the stock a “sector outperform” rating in a report on Friday, July 3rd. Desjardins cut their price target on Kraken Robotics to C$13.50 and set a “buy” rating for the company in a research note on Friday, July 3rd. National Bank Financial decreased their price objective on Kraken Robotics to C$10.00 in a report on Friday, July 3rd. Finally, ATB Cormark Capital Markets lowered their price objective on Kraken Robotics from C$6.50 to C$5.00 and set an “underperform” rating for the company in a research note on Tuesday, July 7th.

Kraken Robotics Stock Up 2.8%

Kraken Robotics stock opened at C$5.96 on Friday. Kraken Robotics has a 1-year low of C$3.31 and a 1-year high of C$10.72. The firm has a market capitalization of C$1.83 billion, a price-to-earnings ratio of 744.00 and a beta of 0.91. The firm’s fifty day moving average price is C$6.35 and its two-hundred day moving average price is C$7.54. The company has a current ratio of 1.37, a quick ratio of 0.64 and a debt-to-equity ratio of 16.23.

Insider Activity at Kraken Robotics

In related news, Director Michael Shaun Mcewan sold 150,000 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of C$6.21, for a total value of C$931,500.00. Following the completion of the sale, the director directly owned 252,548 shares of the company’s stock, valued at approximately C$1,568,323.08. This represents a 37.26% decrease in their position. Also, insider Duane Joseph Alexander Mackay acquired 41,500 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were bought at an average price of C$6.00 per share, for a total transaction of C$249,000.00. Following the completion of the purchase, the insider owned 1,154,500 shares in the company, valued at approximately C$6,927,000. This represents a 3.73% increase in their position. Insiders have sold a total of 238,687 shares of company stock valued at $1,485,800 over the last 90 days. Insiders own 10.13% of the company’s stock.

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.