Kraken Robotics Inc. (CVE:PNG) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Kraken Robotics Inc. (CVE:PNG) have received a consensus rating of “Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$4.10.

Several analysts have recently issued reports on PNG shares. Canaccord Genuity Group cut Kraken Robotics from a “strong-buy” rating to a “hold” rating and increased their price objective for the company from C$3.50 to C$4.00 in a research note on Thursday, July 24th. Raymond James Financial increased their price objective on Kraken Robotics from C$3.50 to C$4.00 and gave the company an “outperform” rating in a research note on Friday, August 22nd. National Bankshares increased their price objective on Kraken Robotics from C$4.00 to C$5.00 and gave the company an “outperform” rating in a research note on Thursday, September 11th. Desjardins increased their price objective on Kraken Robotics from C$4.00 to C$5.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. Finally, Scotiabank upgraded Kraken Robotics to a “strong-buy” rating in a research note on Thursday, August 14th.

Kraken Robotics Trading Up 10.0%

PNG opened at C$6.26 on Wednesday. Kraken Robotics has a 52 week low of C$1.60 and a 52 week high of C$6.58. The business has a fifty day simple moving average of C$4.20 and a 200-day simple moving average of C$3.25. The firm has a market cap of C$1.92 billion, a P/E ratio of 89.43 and a beta of 1.23. The company has a quick ratio of 0.64, a current ratio of 2.78 and a debt-to-equity ratio of 34.32.

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.