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

AKITA Drilling Ltd. (TSE:AKT.A)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$3.16 and traded as high as C$3.85. AKITA Drilling shares last traded at C$3.41, with a volume of 76,614 shares trading hands.

AKITA Drilling Trading Up 1.2%

The firm has a market cap of C$130.37 million, a price-to-earnings ratio of 48.71, a price-to-earnings-growth ratio of -0.69 and a beta of -0.29. The company has a debt-to-equity ratio of 33.94, a quick ratio of 1.54 and a current ratio of 1.69. The company has a 50 day moving average price of C$4.10 and a 200 day moving average price of C$3.16.

AKITA Drilling (TSE:AKT.A) last issued its quarterly earnings data on Tuesday, May 5th. The company reported C($0.05) earnings per share (EPS) for the quarter. The business had revenue of C$55.49 million for the quarter. AKITA Drilling had a return on equity of 3.12% and a net margin of 2.60%. On average, research analysts expect that AKITA Drilling Ltd. will post 0.48 earnings per share for the current year.

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.