ATB Capital Lowers AKITA Drilling (TSE:AKT.A) Price Target to C$2.25

AKITA Drilling (TSE:AKT.A) had its target price lowered by research analysts at ATB Capital from C$2.50 to C$2.25 in a report released on Friday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. ATB Capital’s price target would suggest a potential upside of 13.07% from the stock’s current price.

AKITA Drilling Price Performance

AKT.A stock opened at C$1.99 on Friday. The stock has a market capitalization of C$78.90 million, a P/E ratio of 3.62, a price-to-earnings-growth ratio of -0.69 and a beta of 1.16. The firm has a 50-day moving average price of C$1.98 and a 200-day moving average price of C$2.09. The company has a current ratio of 1.69, a quick ratio of 1.54 and a debt-to-equity ratio of 33.94. AKITA Drilling has a 12 month low of C$1.38 and a 12 month high of C$2.46.

About AKITA Drilling

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.