Desjardins Reiterates “C$3.60” Price Target for Kraken Robotics (CVE:PNG)

Kraken Robotics (CVE:PNG) has been assigned a C$3.60 price target by equities researchers at Desjardins in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price objective points to a potential upside of 36.88% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Canaccord Genuity Group increased their price target on shares of Kraken Robotics from C$2.00 to C$2.50 in a research note on Friday, November 22nd. Raymond James raised shares of Kraken Robotics to a “moderate buy” rating in a report on Thursday, January 23rd.

Kraken Robotics Trading Up 6.5 %

Shares of PNG traded up C$0.16 on Wednesday, hitting C$2.63. 1,153,572 shares of the stock traded hands, compared to its average volume of 1,104,080. The company has a quick ratio of 0.64, a current ratio of 2.71 and a debt-to-equity ratio of 37.39. The firm has a market capitalization of C$605.24 million, a P/E ratio of 52.60 and a beta of 1.15. The stock’s 50 day moving average is C$2.66 and its two-hundred day moving average is C$2.07. Kraken Robotics has a 1 year low of C$0.75 and a 1 year high of C$3.01.

Insiders Place Their Bets

In related news, Senior Officer Gregory Michael Reid acquired 16,260 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was purchased at an average cost of C$2.46 per share, for a total transaction of C$39,999.60. Also, Senior Officer David Shea acquired 11,954 shares of the company’s stock in a transaction on 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. Company insiders own 10.13% of the company’s stock.

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.