Pason Systems (OTCMKTS:PSYTF) Trading Down 1.6% – Here’s Why

Pason Systems Inc. (OTCMKTS:PSYTF) shares dropped 1.6% on Monday . The company traded as low as $9.5663 and last traded at $9.5663. Approximately 27,146 shares were traded during mid-day trading, an increase of 9% from the average daily volume of 24,896 shares. The stock had previously closed at $9.7240.

Wall Street Analyst Weigh In

PSYTF has been the subject of a number of recent analyst reports. TD Securities raised shares of Pason Systems from a “hold” rating to a “buy” rating in a report on Tuesday, May 5th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Pason Systems in a report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Pason Systems presently has a consensus rating of “Buy”.

Pason Systems Price Performance

The business’s fifty day simple moving average is $10.03 and its two-hundred day simple moving average is $9.40.

About Pason Systems

Pason Systems Inc is a Calgary-based provider of data management, automation and software solutions for drilling operations in the oil and gas industry. Since its founding in 1975, the company has developed a suite of instrumentation and data analytics products designed to enhance the safety, efficiency and performance of drilling rigs. Pason’s core offering includes real-time data acquisition systems that collect and transmit drilling parameters such as rate of penetration, torque, hookload and mud flow, enabling operators to make informed decisions on the rig floor and in remote monitoring centers.

The company’s technology platform integrates hardware, software and communications services to deliver comprehensive wellsite data management.