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

Shares of Kraken Robotics Inc. (CVE:PNG) have been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is C$8.71.

Several equities analysts have recently commented on PNG shares. National Bank Financial lowered their price target on shares of Kraken Robotics to C$10.00 in a research report on Friday. ATB Cormark Capital Markets downgraded shares of Kraken Robotics from a “hold” rating to a “strong sell” rating and lifted their price objective for the company from C$5.50 to C$6.50 in a research report on Friday, March 13th. Scotia boosted their target price on shares of Kraken Robotics from C$9.00 to C$12.00 and gave the company a “sector outperform” rating in a research note on Friday. Finally, Desjardins dropped their price target on shares of Kraken Robotics to C$13.50 and set a “buy” rating on the stock in a research note on Friday.

Kraken Robotics Stock Performance

CVE:PNG traded up C$0.37 during midday trading on Friday, reaching C$6.74. 971,122 shares of the company traded hands, compared to its average volume of 1,713,086. 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 company has a fifty day moving average price of C$7.38 and a 200 day moving average price of C$7.82. 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 twelve month low of C$3.00 and a twelve month high of C$10.72.

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.