Analysts Set Kraken Robotics Inc. (CVE:PNG) Price Target at C$8.71

Kraken Robotics Inc. (CVE:PNG) has been given an average rating of “Moderate Buy” by the eight analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is C$8.46.

A number of analysts have commented on the stock. National Bank Financial decreased their price target on shares of Kraken Robotics to C$10.00 in a research note on Friday, July 3rd. Desjardins reduced their price objective on shares of Kraken Robotics to C$13.50 and set a “buy” rating for the company in a report on Friday, July 3rd. 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. Finally, ATB Cormark Capital Markets dropped their price target on shares of Kraken Robotics from C$6.50 to C$5.00 and set an “underperform” rating on the stock in a research report on Tuesday.

Kraken Robotics Price Performance

Shares of CVE PNG opened at C$6.07 on Friday. The firm has a market capitalization of C$1.86 billion, a P/E ratio of 744.00 and a beta of 0.87. The firm’s 50-day moving average price is C$7.27 and its 200-day moving average price is C$7.83. The company has a current ratio of 1.37, a quick ratio of 0.64 and a debt-to-equity ratio of 16.23. Kraken Robotics has a 1-year low of C$3.21 and a 1-year high of C$10.72.

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.