AltaCorp Capital cut shares of AKITA Drilling (TSE:AKT.A) from an outperform rating to a sector perform rating in a research report released on Thursday morning, BayStreet.CA reports. The brokerage currently has C$3.00 price target on the stock, down from their prior price target of C$4.00.
Separately, BMO Capital Markets dropped their price objective on shares of AKITA Drilling from C$3.50 to C$3.00 in a research report on Thursday.
Shares of TSE:AKT.A opened at C$2.20 on Thursday. AKITA Drilling has a 52 week low of C$2.25 and a 52 week high of C$6.01. The firm has a 50 day moving average price of C$2.50. The company has a debt-to-equity ratio of 35.37, a quick ratio of 1.79 and a current ratio of 1.95. The stock has a market cap of $83.50 million and a P/E ratio of -4.23.
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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