AKITA Drilling (TSE:AKT.A) Stock Price Passes Below 200-Day Moving Average of $1.48

AKITA Drilling Ltd. (TSE:AKT.A) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$1.48 and traded as low as C$1.27. AKITA Drilling shares last traded at C$1.30, with a volume of 27,210 shares trading hands.

Analysts Set New Price Targets

Separately, ATB Capital increased their target price on shares of AKITA Drilling from C$2.70 to C$3.75 and gave the stock an “outperform” rating in a report on Tuesday, May 7th.

AKITA Drilling Stock Performance

The firm’s fifty day simple moving average is C$1.45 and its 200 day simple moving average is C$1.48. The company has a market capitalization of C$49.50 million, a price-to-earnings ratio of 4.48, a PEG ratio of -0.69 and a beta of 1.99. The company has a debt-to-equity ratio of 44.24, a current ratio of 2.48 and a quick ratio of 1.54.

About AKITA Drilling

AKITA Drilling Ltd. provides provides contract drilling services in Canada and the United States. The company is involved in the drilling of oil and gas wells; other forms of drilling related to potash mining; and development of storage caverns. It specializes in pad and other purpose-built drilling rigs; and conventional, directional, horizontal, and underbalanced drilling, as well as provides specialized drilling services.