Natl Bk Canada Downgrades Kraken Robotics (CVE:PNG) to Hold

Kraken Robotics (CVE:PNG) was downgraded by Natl Bk Canada from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

PNG has been the topic of a number of other reports. Desjardins upped their price objective on shares of Kraken Robotics from C$6.50 to C$9.50 and gave the company a “buy” rating in a research note on Wednesday. Raymond James Financial raised their price objective on shares of Kraken Robotics from C$4.00 to C$6.25 and gave the stock an “outperform” rating in a research report on Tuesday, November 25th. National Bankshares downgraded shares of Kraken Robotics from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from C$7.50 to C$8.75 in a research note on Wednesday. Finally, Cormark cut shares of Kraken Robotics from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Kraken Robotics presently has an average rating of “Moderate Buy” and a consensus target price of C$7.13.

Kraken Robotics Stock Performance

Shares of PNG stock opened at C$7.94 on Wednesday. The stock has a market capitalization of C$2.43 billion, a PE ratio of 113.43 and a beta of 0.95. The business’s 50 day simple moving average is C$6.18 and its 200 day simple moving average is C$4.99. The company has a debt-to-equity ratio of 34.32, a current ratio of 2.78 and a quick ratio of 0.64. Kraken Robotics has a one year low of C$2.06 and a one year high of C$8.93.

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.