Desjardins Cuts Kraken Robotics (CVE:PNG) Price Target to C$13.00

Kraken Robotics (CVE:PNG) had its price target lowered by Desjardins from C$13.50 to C$13.00 in a research note released on Friday,BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

Several other brokerages have also commented on PNG. ATB Cormark Capital Markets decreased their price objective on shares of Kraken Robotics from C$6.50 to C$5.00 and set an “underperform” rating for the company in a research report on Tuesday, July 7th. National Bank Financial dropped their target price on shares of Kraken Robotics to C$10.00 in a research report on Friday, July 3rd. Raymond James Financial decreased their price target on shares of Kraken Robotics from C$11.00 to C$8.00 and set an “outperform” rating for the company in a report on Friday. Finally, Scotia lifted their price objective on shares of Kraken Robotics from C$9.00 to C$12.00 and gave the stock a “sector outperform” rating in a research note on Friday, July 3rd. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Kraken Robotics has an average rating of “Moderate Buy” and an average target price of C$9.60.

Kraken Robotics Price Performance

Shares of CVE PNG opened at C$5.34 on Friday. The company has a debt-to-equity ratio of 16.99, a quick ratio of 0.64 and a current ratio of 1.33. The company has a market cap of C$1.98 billion, a PE ratio of -267.00 and a beta of 0.91. The business has a 50-day simple moving average of C$6.18 and a two-hundred day simple moving average of C$7.46. Kraken Robotics has a fifty-two week low of C$3.31 and a fifty-two week high of C$10.72.

Insider Buying and Selling

In other Kraken Robotics news, Director Michael Shaun Mcewan sold 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of C$6.21, for a total transaction of C$931,500.00. Following the completion of the transaction, the director directly owned 252,548 shares of the company’s stock, valued at approximately C$1,568,323.08. This trade represents a 37.26% decrease in their position. Also, Director Donald Christopher Robertson acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were acquired at an average price of C$6.05 per share, with a total value of C$60,500.00. Following the completion of the purchase, the director owned 10,000 shares in the company, valued at approximately C$60,500. This trade represents a ∞ increase in their position. In the last quarter, insiders have sold 238,687 shares of company stock worth $1,485,800. 10.13% of the stock is owned by company insiders.

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.