Kraken Robotics (CVE:PNG) Director Purchases C$60,500.00 in Stock

Kraken Robotics Inc. (CVE:PNG) Director Donald Christopher Robertson purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were bought at an average price of C$6.05 per share, with a total value of C$60,500.00. Following the purchase, the director directly owned 10,000 shares of the company’s stock, valued at approximately C$60,500. The trade was a ∞ increase in their ownership of the stock.

Kraken Robotics Stock Performance

CVE:PNG traded up C$0.49 during midday trading on Friday, reaching C$6.75. The stock had a trading volume of 1,530,678 shares, compared to its average volume of 1,705,916. The company has a quick ratio of 0.64, a current ratio of 1.37 and a debt-to-equity ratio of 16.23. The stock has a market cap of C$2.07 billion, a P/E ratio of 744.00 and a beta of 0.87. The firm has a fifty day simple moving average of C$7.19 and a two-hundred day simple moving average of C$7.83. Kraken Robotics Inc. has a 12-month low of C$3.28 and a 12-month high of C$10.72.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Desjardins dropped their target price on shares of Kraken Robotics to C$13.50 and set a “buy” rating for the company in a report on Friday, July 3rd. Scotia raised their price objective on Kraken Robotics from C$9.00 to C$12.00 and gave the company a “sector outperform” rating in a research note on Friday, July 3rd. ATB Cormark Capital Markets decreased their target price on Kraken Robotics from C$6.50 to C$5.00 and set an “underperform” rating on the stock in a research report on Tuesday, July 7th. Finally, National Bank Financial lowered their price target on shares of Kraken Robotics to C$10.00 in a research report on Friday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$8.46.

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. 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.