Desjardins Upgrades Kraken Robotics (CVE:PNG) to “Moderate Buy”

Kraken Robotics (CVE:PNG) was upgraded by stock analysts at Desjardins to a “moderate buy” rating in a research note issued on Tuesday,Zacks.com reports.

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

Kraken Robotics Stock Up 7.3 %

Shares of PNG stock opened at C$2.65 on Tuesday. The company has a debt-to-equity ratio of 37.39, a current ratio of 2.71 and a quick ratio of 0.64. Kraken Robotics has a one year low of C$0.75 and a one year high of C$3.01. The company’s fifty day moving average price is C$2.67 and its 200-day moving average price is C$2.07. The company has a market capitalization of C$609.84 million, a price-to-earnings ratio of 53.00 and a beta of 1.15.

Insider Activity at Kraken Robotics

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