AKITA Drilling (TSE:AKT.A) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

AKITA Drilling Ltd. (TSE:AKT.A)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$1.43 and traded as high as C$1.61. AKITA Drilling shares last traded at C$1.57, with a volume of 26,935 shares changing hands.

Analyst Ratings Changes

Separately, ATB Capital increased their price objective on AKITA Drilling from C$3.25 to C$3.75 in a report on Wednesday, July 31st.

AKITA Drilling Stock Down 4.3 %

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 capitalization of C$59.79 million, a price-to-earnings ratio of 14.27, a P/E/G ratio of -0.69 and a beta of 1.97. The firm’s fifty day moving average price is C$1.45 and its 200-day moving average price is C$1.43.

About AKITA Drilling

AKITA Drilling Ltd. operates as an oil and gas drilling contractor in Canada and the United States. It is involved in the drilling oil and gas wells, potash exploration and development wells, geothermal wells, disposal wells, and carbon storage wells, as well as wells to be developed into storage caverns for gas.