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

Shares of AKITA Drilling Ltd. (TSE:AKT.A) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$1.51 and traded as low as C$1.49. AKITA Drilling shares last traded at C$1.49, with a volume of 1,403 shares.

Analysts Set New Price Targets

Separately, ATB Capital reduced their target price on shares of AKITA Drilling from C$3.30 to C$2.80 in a report on Friday, March 22nd.

AKITA Drilling Stock Performance

The stock has a fifty day simple moving average of C$1.58 and a two-hundred day simple moving average of C$1.51. The stock has a market cap of C$55.57 million, a price-to-earnings ratio of 2.06, a P/E/G ratio of -0.69 and a beta of 1.99. The company has a debt-to-equity ratio of 45.15, a quick ratio of 1.54 and a current ratio of 1.85.

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.