AKITA Drilling (TSE:AKT.A) Shares Cross Below 200-Day Moving Average of $1.46

AKITA Drilling Ltd. (TSE:AKT.A) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$1.46 and traded as low as C$1.35. AKITA Drilling shares last traded at C$1.40, with a volume of 2,300 shares changing hands.

Wall Street Analyst Weigh In

Separately, ATB Capital lifted their price objective on AKITA Drilling from C$3.25 to C$3.75 in a report on Wednesday, July 31st.

AKITA Drilling Stock Performance

The stock’s 50-day moving average price is C$1.39 and its 200-day moving average price is C$1.46. The company has a debt-to-equity ratio of 33.94, a quick ratio of 1.54 and a current ratio of 1.69. The company has a market capitalization of C$53.31 million, a price-to-earnings ratio of 12.73, a P/E/G ratio of -0.69 and a beta of 1.96.

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.