Kraken Robotics (CVE:PNG) Rating Increased to Hold at ATB Cormark Capital Markets

Kraken Robotics (CVE:PNG) was upgraded by analysts at ATB Cormark Capital Markets from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

Several other research firms have also recently commented on PNG. Scotia increased 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. Desjardins decreased their target price on Kraken Robotics from C$13.50 to C$13.00 and set a “buy” rating for the company in a research report on Friday. National Bank Financial lowered their target price on shares of Kraken Robotics to C$10.00 in a research note on Friday, July 3rd. Finally, Raymond James Financial dropped their price target on shares of Kraken Robotics from C$11.00 to C$8.00 and set an “outperform” rating on the stock in a report on Friday. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Kraken Robotics currently has an average rating of “Moderate Buy” and an average price target of C$9.60.

Kraken Robotics Stock Down 1.1%

Kraken Robotics stock opened at C$5.34 on Friday. The firm has a market cap of C$1.64 billion, a price-to-earnings ratio of 744.00 and a beta of 0.91. The stock has a fifty day simple moving average of C$6.18 and a two-hundred day simple moving average of C$7.46. Kraken Robotics has a 12 month low of C$3.31 and a 12 month high of C$10.72. The company has a current ratio of 1.37, a quick ratio of 0.64 and a debt-to-equity ratio of 16.23.

Insider Buying and Selling at Kraken Robotics

In other Kraken Robotics news, Director Michael Shaun Mcewan sold 150,000 shares of the firm’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of C$6.21, for a total value of C$931,500.00. Following the transaction, the director directly owned 252,548 shares of the company’s stock, valued at approximately C$1,568,323.08. This trade represents a 37.26% decrease in their ownership of the stock. Also, Director Donald Christopher Robertson purchased 10,000 shares of the business’s stock in a transaction on Wednesday, July 8th. The shares were purchased at an average price of C$6.05 per share, with a total value of C$60,500.00. Following the completion of the purchase, the director owned 10,000 shares in the company, valued at approximately C$60,500. This trade represents a ∞ increase in their ownership of the stock. Over the last 90 days, insiders have sold 238,687 shares of company stock valued at $1,485,800. 10.13% of the stock is owned by company insiders.

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.