Duane Joseph Alexander Mackay Purchases 41,500 Shares of Kraken Robotics (CVE:PNG) Stock

Kraken Robotics Inc. (CVE:PNG) insider Duane Joseph Alexander Mackay bought 41,500 shares of Kraken Robotics stock in a transaction dated Wednesday, July 8th. The stock was acquired at an average price of C$6.00 per share, with a total value of C$249,000.00. Following the purchase, the insider directly owned 1,154,500 shares of the company’s stock, valued at approximately C$6,927,000. This represents a 3.73% increase in their ownership of the stock.

Kraken Robotics Stock Performance

CVE PNG opened at C$6.26 on Friday. The firm has a market cap of C$1.92 billion, a P/E ratio of 744.00 and a beta of 0.87. The company has a quick ratio of 0.64, a current ratio of 1.37 and a debt-to-equity ratio of 16.23. The company’s 50 day moving average is C$7.21 and its 200-day moving average is C$7.83. Kraken Robotics Inc. has a 12-month low of C$3.28 and a 12-month high of C$10.72.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PNG shares. Scotia increased their target price on Kraken Robotics from C$9.00 to C$12.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 3rd. National Bank Financial reduced their price target on Kraken Robotics to C$10.00 in a research report on Friday, July 3rd. ATB Cormark Capital Markets decreased their price objective on Kraken Robotics from C$6.50 to C$5.00 and set an “underperform” rating on the stock in a research note on Tuesday. Finally, Desjardins dropped their price objective on Kraken Robotics to C$13.50 and set a “buy” rating on the stock in a report on Friday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Kraken Robotics has an average rating of “Moderate Buy” and an average target price of C$8.46.

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.