Canaccord Genuity Group Forecasts Strong Price Appreciation for Kraken Robotics (CVE:PNG) Stock

Kraken Robotics (CVE:PNG) had its price objective upped by research analysts at Canaccord Genuity Group from C$2.00 to C$2.50 in a report issued on Friday,BayStreet.CA reports. Canaccord Genuity Group’s target price points to a potential upside of 19.62% from the stock’s current price.

Kraken Robotics Price Performance

Shares of PNG stock opened at C$2.09 on Friday. Kraken Robotics has a 52 week low of C$0.51 and a 52 week high of C$2.67. The stock has a market capitalization of C$480.97 million, a PE ratio of 41.80 and a beta of 1.15. The company has a debt-to-equity ratio of 37.39, a quick ratio of 0.64 and a current ratio of 2.71. The stock’s fifty day moving average is C$1.90 and its 200-day moving average is C$1.44.

Kraken Robotics (CVE:PNG) last announced its earnings results on Thursday, August 22nd. The company reported C$0.01 earnings per share (EPS) for the quarter. The company had revenue of C$22.76 million for the quarter, compared to analyst estimates of C$24.60 million. Kraken Robotics had a net margin of 10.51% and a return on equity of 23.24%. Equities research analysts expect that Kraken Robotics will post 0.0749482 EPS for the current fiscal year.

Insider Buying and Selling at Kraken Robotics

In other news, Senior Officer David Shea sold 142,500 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of C$1.57, for a total value of C$223,782.00. 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.