Kraken Robotics (CVE:PNG) Lowered to Underperform Rating by ATB Cormark Capital Markets

ATB Cormark Capital Markets lowered shares of Kraken Robotics (CVE:PNG) from a sector perform rating to an underperform rating in a research report report published on Friday,BayStreet.CA reports. ATB Cormark Capital Markets currently has C$6.50 target price on the stock, up from their prior target price of C$5.50.

PNG has been the subject of a number of other reports. Raymond James Financial lifted their price objective on shares of Kraken Robotics from C$4.00 to C$6.25 and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. Desjardins upped their target price on shares of Kraken Robotics from C$9.50 to C$14.00 and gave the company a “buy” rating in a research report on Friday. National Bank Financial raised shares of Kraken Robotics from a “sector perform” rating to an “outperform” rating and increased their price target for the company from C$8.75 to C$13.00 in a report on Friday. Finally, Cormark lowered Kraken Robotics from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$8.75.

Kraken Robotics Price Performance

Kraken Robotics stock opened at C$9.48 on Friday. The company has a market cap of C$2.91 billion, a price-to-earnings ratio of 135.43 and a beta of 0.72. The firm’s fifty day moving average is C$8.28 and its 200 day moving average is C$6.40. The company has a quick ratio of 0.64, a current ratio of 7.30 and a debt-to-equity ratio of 16.12. Kraken Robotics has a 52-week low of C$2.06 and a 52-week 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.