AKITA Drilling (TSE:AKT.A) Stock Price Up 10.9% – Still a Buy?

AKITA Drilling Ltd. (TSE:AKT.A) rose 10.9% during trading on Wednesday . The company traded as high as C$4.48 and last traded at C$4.39. Approximately 132,827 shares traded hands during trading, an increase of 44% from the average daily volume of 91,945 shares. The stock had previously closed at C$3.96.

AKITA Drilling Stock Performance

The company has a quick ratio of 1.54, a current ratio of 1.69 and a debt-to-equity ratio of 33.94. The company has a fifty day moving average price of C$3.34 and a 200 day moving average price of C$2.47. The stock has a market cap of C$168.80 million, a PE ratio of 12.88, a P/E/G ratio of -0.69 and a beta of -0.30.

About AKITA Drilling

AKITA is a premier Canadian oil and gas drilling contractor with a fleet of 32 drilling rigs. AKITA provides contract drilling services through two geographical segments: Canada and the United States (“US”). AKITA’s US fleet is supported out of its operations base in Midland, Texas and is comprised of 13 high specification AC triple rigs, one high specification AC double rig and one DC triple rig, primarily serving the Permian Basin, which is the most active basin in the US and currently supports approximately half of all US land drilling.