AKITA Drilling (TSE:AKT.A) Stock Price Crosses Below 200 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 traded.

Analyst Upgrades and Downgrades

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

AKITA Drilling Stock Performance

The company has a quick ratio of 1.54, a current ratio of 2.48 and a debt-to-equity ratio of 44.24. The stock has a market cap of C$50.27 million, a price-to-earnings ratio of 4.55, a P/E/G ratio of -0.69 and a beta of 1.99. The company has a 50 day simple moving average of C$1.42 and a 200 day simple moving average of C$1.47.

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.