AKITA Drilling (TSE:AKT.A) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

AKITA Drilling Ltd. (TSE:AKT.A) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$3.23 and traded as high as C$3.80. AKITA Drilling shares last traded at C$3.79, with a volume of 41,667 shares traded.

AKITA Drilling Stock Performance

The firm has a market capitalization of C$151.84 million, a P/E ratio of 11.59, a price-to-earnings-growth ratio of -0.69 and a beta of -0.30. The stock has a 50-day moving average of C$3.27 and a 200 day moving average of C$2.45. The company has a debt-to-equity ratio of 33.94, a quick ratio of 1.54 and a current ratio of 1.69.

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.