AKITA Drilling (TSE:AKT.A) Shares Cross Below Two Hundred Day Moving Average of $1.47

Shares of AKITA Drilling Ltd. (TSE:AKT.A) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$1.47 and traded as low as C$1.34. AKITA Drilling shares last traded at C$1.34, with a volume of 3,033 shares changing hands.

Analyst Upgrades and Downgrades

Separately, ATB Capital lifted 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 research report on Tuesday, May 7th.

AKITA Drilling Stock Performance

The firm’s 50 day simple moving average is C$1.42 and its 200-day simple moving average is C$1.47. The company has a market capitalization of C$51.03 million, a price-to-earnings ratio of 4.62, a P/E/G ratio of -0.69 and a beta of 1.99. The company has a debt-to-equity ratio of 44.24, a quick ratio of 1.54 and a current ratio of 2.48.

AKITA Drilling Company Profile

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.