Pason Systems (OTCMKTS:PSYTF) Shares Up 0.3% – Still a Buy?

Pason Systems Inc. (OTCMKTS:PSYTF) shares shot up 0.3% during trading on Tuesday . The company traded as high as $8.8220 and last traded at $8.78. Approximately 37,379 shares were traded during mid-day trading, an increase of 43% from the average session volume of 26,106 shares. The stock had previously closed at $8.75.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. BMO Capital Markets restated an “outperform” rating on shares of Pason Systems in a research note on Friday, May 8th. TD Securities upgraded shares of Pason Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy”.

Pason Systems Stock Up 4.1%

The company has a fifty day simple moving average of $9.81 and a two-hundred day simple moving average of $9.39.

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.