National Bank Financial Cuts Kraken Robotics (CVE:PNG) Price Target to C$10.00

Kraken Robotics (CVE:PNG) had its price target dropped by equities researchers at National Bank Financial to C$10.00 in a note issued to investors on Friday,BayStreet.CA reports. National Bank Financial’s target price would suggest a potential upside of 48.59% from the stock’s previous close.

PNG has been the topic of several other research reports. Scotia boosted their price target on shares of Kraken Robotics from C$9.00 to C$12.00 and gave the company a “sector outperform” rating in a research report on Friday. Desjardins lifted their price objective on Kraken Robotics from C$9.50 to C$14.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Finally, ATB Cormark Capital Markets lowered Kraken Robotics from a “hold” rating to a “strong sell” rating and increased their target price for the stock from C$5.50 to C$6.50 in a research report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$8.71.

Kraken Robotics Trading Up 5.7%

Kraken Robotics stock traded up C$0.36 during mid-day trading on Friday, reaching C$6.73. 811,261 shares of the company traded hands, compared to its average volume of 1,712,016. The company has a debt-to-equity ratio of 16.23, a current ratio of 1.37 and a quick ratio of 0.64. Kraken Robotics has a 52-week low of C$3.00 and a 52-week high of C$10.72. The firm has a market capitalization of C$2.07 billion, a price-to-earnings ratio of 744.00 and a beta of 0.71. The firm’s 50 day moving average price is C$7.38 and its 200 day moving average price is C$7.82.

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.