Akita Drilling (TSE:AKT) Shares Break Below Fifty Day Moving Average – What’s Next?

Akita Drilling (TSE:AKT – Get Free Report) passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of C$3.82 and traded as low as C$3.65. Akita Drilling shares last traded at C$3.69, with a volume of 29,311 shares trading hands.

Wall Street Analyst Weigh In

Separately, ATB Cormark Capital Markets lowered Akita Drilling from a “moderate buy” rating to a “hold” rating and cut their price objective for the stock from C$5.00 to C$4.25 in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Hold rating. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of C$4.25.

Get Akita Drilling alerts:

Get Our Latest Research Report on AKT

Akita Drilling Stock Performance

The firm has a 50-day moving average of C$3.82. The stock has a market cap of C$212.16 million, a PE ratio of -26.36 and a beta of 0.37.

Akita Drilling (TSE:AKT – Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported C($0.12) earnings per share for the quarter. The company had revenue of C$46.37 million for the quarter.

About Akita Drilling

(Get Free Report)

AKITA Drilling Ltd. (AKITA) is engaged in providing contract drilling services, primarily to the oil and gas industry. The Company is involved in other forms of drilling, including potash mining and the development of storage caverns. The Company owns and operates approximately 31 drilling rigs in Canada. The Company manages its business through approximately two geographic regions, which include Canada and the United States. The Company specializes in the construction and retrofit of heavy oil pad drilling rigs associated with Steam Assisted Gravity Drainage (SAGD) operations.

Recommended Stories

• Five stocks we like better than Akita Drilling
• A Chinese Rival Just Spooked Memory Stocks—How Worried Should Micron Investors Be?
• Could T-Mobile’s Satellite Competition Fears Create a Buying Opportunity?
• Surgical Precision, Sustainable Returns: Johnson & Johnson Secures Its Cash Flow Runway
• Tesla’s Robotaxi Lands in Paris—But Europe’s Real Fight Is Over Cheap EVs

Receive News & Ratings for Akita Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akita Drilling and related companies with MarketBeat.com's FREE daily email newsletter.