AKITA Drilling Ltd. (TSE:AKT.A – Get Free Report)’s stock price shot up 6.4% during trading on Friday . The company traded as high as C$1.85 and last traded at C$1.83. 84,374 shares changed hands during trading, an increase of 104% from the average session volume of 41,315 shares. The stock had previously closed at C$1.72.
Wall Street Analysts Forecast Growth
Separately, ATB Capital reduced their target price on shares of AKITA Drilling from C$4.75 to C$3.75 in a research note on Friday, May 5th.
AKITA Drilling Stock Up 6.4 %
The company has a quick ratio of 1.54, a current ratio of 2.50 and a debt-to-equity ratio of 63.23. The company has a market capitalization of C$69.54 million, a price-to-earnings ratio of 4.36, a P/E/G ratio of -0.69 and a beta of 1.91. The stock’s fifty day moving average price is C$1.38 and its 200-day moving average price is C$1.49.
About AKITA Drilling
AKITA Drilling Ltd. provides provides contract drilling services in Canada and the United States. The company is involved in the drilling of oil and gas wells; other forms of drilling related to potash mining; and development of storage caverns. It specializes in pad and other purpose-built drilling rigs; and conventional, directional, horizontal, and underbalanced drilling, as well as provides specialized drilling services.
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