As of the [Koumei] update this Robotic Companion weapon is now a chaining Electric beam that hits up to 4 targets simultaneously with a base status chance of 25% and a Fire Rate of 12.

This easily makes it a strong contender for the best Priming weapon for Sentinels/Moas in the game, handily rivaling the Helstrum's larger AOE potential but vastly slower Fire Rate. The only downside is the inability to run Viral/Heat, due to the innate Electric Damage of the weapon.

Elemental combinations can be swapped to match your preference, just keep in mind the innate Electric damage on the weapon when modding. The most useful of which is Corrosive/Cold/Radiation/Magnetic, achieved by swapping [Hammer Shot] out for [High Voltage].
(doing so lowers the overall status chance, but only minimally)

Edit 3: refreshing the build for The Old Peace, no changes needed. Rewrote guide to [Reflect] changes to modding and reduce potential for confusion.