AKITA Drilling (TSE:AKT.A) Shares Pass Above 50-Day Moving Average – Here’s What Happened

Shares of AKITA Drilling Ltd. (TSE:AKT.A) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$3.23 and traded as high as C$3.80. AKITA Drilling shares last traded at C$3.79, with a volume of 41,667 shares traded.

AKITA Drilling Stock Performance

The company has a debt-to-equity ratio of 33.94, a current ratio of 1.69 and a quick ratio of 1.54. The stock has a market capitalization of C$146.06 million, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of -0.69 and a beta of -0.30. The stock has a 50-day moving average of C$3.23 and a 200 day moving average of C$2.44.

AKITA Drilling Company Profile

AKITA is a premier Canadian oil and gas drilling contractor with a fleet of 32 drilling rigs. AKITA provides contract drilling services through two geographical segments: Canada and the United States (“US”). AKITA’s US fleet is supported out of its operations base in Midland, Texas and is comprised of 13 high specification AC triple rigs, one high specification AC double rig and one DC triple rig, primarily serving the Permian Basin, which is the most active basin in the US and currently supports approximately half of all US land drilling.