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

Kraken Robotics Inc. (CVE:PNG) has been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is C$9.35.

PNG has been the subject of several recent analyst reports. Desjardins lowered their price target on Kraken Robotics to C$13.50 and set a “buy” rating for the company in a report on Friday, July 3rd. National Bank Financial cut their price objective on Kraken Robotics to C$10.00 in a report on Friday, July 3rd. Scotia boosted their price objective on Kraken Robotics from C$9.00 to C$12.00 and gave the company a “sector outperform” rating in a research report on Friday, July 3rd. Finally, ATB Cormark Capital Markets lowered their target price on Kraken Robotics from C$6.50 to C$5.00 and set an “underperform” rating for the company in a research note on Tuesday, July 7th.

Insider Buying and Selling at Kraken Robotics

In related news, insider Duane Joseph Alexander Mackay purchased 41,500 shares of Kraken Robotics stock in a transaction dated Wednesday, July 8th. The stock was bought at an average price of C$6.00 per share, for a total transaction of C$249,000.00. Following the completion of the acquisition, the insider directly owned 1,154,500 shares of the company’s stock, valued at C$6,927,000. This represents a 3.73% increase in their ownership of the stock. Also, Director Michael Shaun Mcewan sold 150,000 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of C$6.21, for a total transaction of C$931,500.00. Following the sale, the director directly owned 252,548 shares of the company’s stock, valued at C$1,568,323.08. This represents a 37.26% decrease in their position. Over the last quarter, insiders have sold 238,687 shares of company stock valued at $1,485,800. 10.13% of the stock is currently owned by corporate insiders.

Kraken Robotics Stock Performance

Shares of Kraken Robotics stock opened at C$6.16 on Tuesday. The stock’s fifty day simple moving average is C$6.96 and its 200 day simple moving average is C$7.81. The company has a current ratio of 1.37, a quick ratio of 0.64 and a debt-to-equity ratio of 16.23. The company has a market capitalization of C$1.89 billion, a PE ratio of 744.00 and a beta of 0.87. Kraken Robotics has a 12 month low of C$3.28 and a 12 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.