AKITA Drilling (TSE:AKT.A) Stock Passes Above 200-Day Moving Average – Here’s What Happened

AKITA Drilling Ltd. (TSE:AKT.A)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$2.64 and traded as high as C$4.61. AKITA Drilling shares last traded at C$4.50, with a volume of 62,120 shares traded.

AKITA Drilling Trading Up 1.6%

The business has a fifty day moving average price of C$3.77 and a 200 day moving average price of C$2.64. The company has a market capitalization of C$172.89 million, a PE ratio of 64.29, a P/E/G ratio of -0.69 and a beta of 0.03. 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 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.