Pason Systems (OTCMKTS:PSYTF) Shares Down 0.1% – Here’s What Happened

Pason Systems Inc. (OTCMKTS:PSYTF)’s stock price was down 0.1% during trading on Wednesday . The stock traded as low as $9.0040 and last traded at $9.0220. 51,544 shares traded hands during trading, an increase of 82% from the average daily volume of 28,270 shares. The stock had previously closed at $9.03.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. TD Securities upgraded 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.com, the company has a consensus rating of “Buy”.

Pason Systems Stock Down 1.4%

The firm has a 50 day simple moving average of $9.41 and a two-hundred day simple moving average of $9.45.

Pason Systems Company Profile

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.