Kraken Robotics (CVE:PNG) Price Target Cut to C$10.00 by Analysts at National Bank Financial

Kraken Robotics (CVE:PNG) had its price target reduced by analysts at National Bank Financial to C$10.00 in a note issued to investors on Friday,BayStreet.CA reports. National Bank Financial’s price target indicates a potential upside of 48.59% from the stock’s previous close.

A number of other equities research analysts have also weighed in on PNG. Desjardins boosted their target price on Kraken Robotics from C$9.50 to C$14.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Scotia raised their price target on Kraken Robotics from C$9.00 to C$12.00 and gave the stock a “sector outperform” rating in a research report on Friday. Finally, ATB Cormark Capital Markets downgraded Kraken Robotics from a “hold” rating to a “strong sell” rating and boosted their price objective for the company from C$5.50 to C$6.50 in a research report on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$8.71.

Kraken Robotics Trading Up 5.7%

Kraken Robotics stock traded up C$0.36 during mid-day trading on Friday, hitting C$6.73. The company’s stock had a trading volume of 811,261 shares, compared to its average volume of 1,712,016. The company has a debt-to-equity ratio of 16.23, a current ratio of 1.37 and a quick ratio of 0.64. The stock has a market cap of C$2.07 billion, a price-to-earnings ratio of 744.00 and a beta of 0.71. The business has a 50 day moving average price of C$7.38 and a 200-day moving average price of C$7.82. Kraken Robotics has a 12 month low of C$3.00 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.