AKITA Drilling (TSE:AKT.A) Shares Pass Below 200-Day Moving Average – What’s Next?

AKITA Drilling Ltd. (TSE:AKT.A) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$2.09 and traded as low as C$2.00. AKITA Drilling shares last traded at C$2.08, with a volume of 19,541 shares.

Analysts Set New Price Targets

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

AKITA Drilling Trading Up 2.0%

The stock has a 50-day moving average price of C$2.01 and a two-hundred day moving average price of C$2.09. The stock has a market capitalization of C$82.47 million, a PE ratio of 3.78, a PEG ratio of -0.69 and a beta of 1.16. The company has a debt-to-equity ratio of 33.94, a quick ratio of 1.54 and a current ratio of 1.69.

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.