Kraken Robotics (CVE:PNG) PT Set at C$3.60 by Desjardins

Kraken Robotics (CVE:PNG) received a C$3.60 target price from stock analysts at Desjardins in a note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ target price indicates a potential upside of 39.53% from the company’s previous close.

A number of other analysts also recently weighed in on the company. Canaccord Genuity Group increased their price objective on Kraken Robotics from C$2.00 to C$2.50 in a report on Friday, November 22nd. Raymond James raised shares of Kraken Robotics to a “moderate buy” rating in a research report on Thursday, January 23rd.

Kraken Robotics Stock Performance

CVE PNG opened at C$2.58 on Wednesday. The company has a market capitalization of C$701.44 million, a price-to-earnings ratio of 68.26 and a beta of 1.15. Kraken Robotics has a twelve month low of C$0.80 and a twelve month high of C$3.01. The stock has a fifty day simple moving average of C$2.67 and a 200 day simple moving average of C$2.07. The company has a quick ratio of 0.64, a current ratio of 2.78 and a debt-to-equity ratio of 34.32.

Insider Activity at Kraken Robotics

In other news, Senior Officer Gregory Michael Reid acquired 16,260 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was purchased at an average price of C$2.46 per share, for a total transaction of C$39,999.60. Also, Senior Officer David Shea purchased 11,954 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were bought at an average price of C$2.64 per share, with a total value of C$31,558.56. 10.13% of the stock is owned by 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.