AKITA Drilling (TSE:AKT.A) Share Price Passes Above Fifty Day Moving Average of $1.14

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AKITA Drilling Ltd. (TSE:AKT.A) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $1.14 and traded as high as $1.15. AKITA Drilling shares last traded at $1.15, with a volume of 200 shares changing hands.

Separately, BMO Capital Markets cut their price objective on AKITA Drilling from C$3.00 to C$2.00 in a research report on Tuesday, September 10th.

The stock has a market cap of $39.85 million and a price-to-earnings ratio of -2.38. The business’s 50 day moving average is C$1.14 and its 200-day moving average is C$2.13. The company has a debt-to-equity ratio of 34.23, a quick ratio of 1.30 and a current ratio of 1.36.

AKITA Drilling Company Profile (TSE:AKT.A)

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.

Further Reading: What is an economic bubble?

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