AKITA Drilling (TSE:AKT.A) Stock Crosses Above 200 Day Moving Average – What’s Next?

Shares of AKITA Drilling Ltd. (TSE:AKT.A) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$2.02 and traded as high as C$2.13. AKITA Drilling shares last traded at C$2.09, with a volume of 6,956 shares.

Analyst Ratings Changes

Separately, ATB Capital decreased their price objective on shares of AKITA Drilling from C$2.50 to C$2.25 and set a “sector perform” rating for the company in a research note on Friday, December 19th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, AKITA Drilling presently has a consensus rating of “Hold” and an average price target of C$2.25.

AKITA Drilling Stock Performance

The business has a 50-day moving average of C$2.01 and a two-hundred day moving average of C$2.02. 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 company has a market cap of C$82.87 million, a P/E ratio of 3.80, a P/E/G ratio of -0.69 and a beta of 0.92.

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.