ATB Capital Lowers AKITA Drilling (TSE:AKT.A) Price Target to C$3.25

AKITA Drilling (TSE:AKT.A) had its price target dropped by ATB Capital from C$3.75 to C$3.25 in a report released on Friday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. ATB Capital’s price target indicates a potential upside of 140.74% from the stock’s previous close.

AKITA Drilling Stock Up 2.3 %

Shares of AKITA Drilling stock traded up C$0.03 on Friday, hitting C$1.35. 19,170 shares of the company’s stock traded hands, compared to its average volume of 32,025. The stock has a market cap of C$51.41 million, a P/E ratio of 4.66, a PEG ratio of -0.69 and a beta of 1.99. The company has a quick ratio of 1.54, a current ratio of 2.48 and a debt-to-equity ratio of 44.24. The firm’s 50-day moving average is C$1.42 and its 200 day moving average is C$1.47. AKITA Drilling has a 52-week low of C$1.22 and a 52-week high of C$1.99.

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.