AKITA Drilling (TSE:AKT.A) Stock Passes Below 200 Day Moving Average of $1.51

AKITA Drilling Ltd. (TSE:AKT.A) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$1.51 and traded as low as C$1.49. AKITA Drilling shares last traded at C$1.50, with a volume of 14,970 shares trading hands.

Analyst Ratings Changes

Separately, ATB Capital reduced their price target on shares of AKITA Drilling from C$3.30 to C$2.80 in a research report on Friday, March 22nd.

AKITA Drilling Stock Performance

The company has a debt-to-equity ratio of 45.15, a quick ratio of 1.54 and a current ratio of 1.85. The business’s fifty day simple moving average is C$1.58 and its 200-day simple moving average is C$1.51. The firm has a market capitalization of C$56.90 million, a PE ratio of 2.11, a price-to-earnings-growth ratio of -0.69 and a beta of 1.99.

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.