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

AKITA Drilling Ltd. (TSE:AKT.A) passed 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 traded.

Analysts Set New Price Targets

Separately, ATB Capital lowered their price objective on AKITA Drilling from C$3.30 to C$2.80 in a research note on Friday, March 22nd.

AKITA Drilling Price Performance

The stock has a 50 day simple moving average of C$1.58 and a two-hundred day simple moving average of C$1.51. The company has a market cap of C$56.90 million, a price-to-earnings ratio of 2.11, a price-to-earnings-growth ratio of -0.69 and a beta of 1.99. The company has a debt-to-equity ratio of 45.15, a current ratio of 1.85 and a quick ratio of 1.54.

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.