AKITA Drilling (TSE:AKT.A) Stock Passes Below 200 Day Moving Average – Here’s Why

Shares of AKITA Drilling Ltd. (TSE:AKT.A) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$2.08 and traded as low as C$1.81. AKITA Drilling shares last traded at C$1.81, with a volume of 88,815 shares traded.

Analyst Ratings Changes

Separately, ATB Capital cut shares of AKITA Drilling from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from C$3.00 to C$2.50 in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of C$2.50.

AKITA Drilling Price Performance

The company has a current ratio of 1.69, a quick ratio of 1.54 and a debt-to-equity ratio of 33.94. The stock has a market cap of C$71.77 million, a PE ratio of 3.29, a PEG ratio of -0.69 and a beta of 1.25. The business has a 50-day moving average price of C$2.06 and a 200 day moving average price of C$2.08.

AKITA Drilling Company Profile

Akita Drilling Ltd is a Canadian oil and gas drilling contractor. The company is engaged in providing contract drilling services, primarily to the oil and gas industry. The company owns and operates over 30 drilling rigs It is also involved in the drilling related to potash mining and the development of storage caverns.