Canaccord Genuity Group Forecasts Strong Price Appreciation for Kraken Robotics (CVE:PNG) Stock

Kraken Robotics (CVE:PNG) had its target price increased by Canaccord Genuity Group from C$2.00 to C$2.50 in a report released on Friday,BayStreet.CA reports.

Kraken Robotics Stock Performance

Kraken Robotics stock opened at C$2.09 on Friday. The company has a current ratio of 2.71, a quick ratio of 0.64 and a debt-to-equity ratio of 37.39. The stock has a 50 day moving average of C$1.90 and a 200-day moving average of C$1.43. The stock has a market cap of C$480.97 million, a P/E ratio of 41.80 and a beta of 1.15. Kraken Robotics has a 52 week low of C$0.51 and a 52 week high of C$2.67.

Kraken Robotics (CVE:PNG) last announced its quarterly earnings data on Thursday, August 22nd. The company reported C$0.01 earnings per share for the quarter. The company had revenue of C$22.76 million during the quarter, compared to analyst estimates of C$24.60 million. Kraken Robotics had a net margin of 10.51% and a return on equity of 23.24%. On average, analysts expect that Kraken Robotics will post 0.0749482 EPS for the current fiscal year.

Insider Activity at Kraken Robotics

In other Kraken Robotics news, Senior Officer David Shea sold 142,500 shares of Kraken Robotics stock in a transaction on Friday, August 30th. The shares were sold at an average price of C$1.57, for a total value of C$223,782.00. 10.13% of the stock is owned by corporate insiders.

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.