Pason Systems (OTCMKTS:PSYTF) Trading Down 1.6% – What’s Next?

Pason Systems Inc. (OTCMKTS:PSYTF) dropped 1.6% on Monday . The stock 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 Analysts Forecast Growth

PSYTF has been the topic of several research reports. BMO Capital Markets restated an “outperform” rating on shares of Pason Systems in a research report on Friday, May 8th. TD Securities upgraded Pason Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, May 5th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy”.

Pason Systems Price Performance

The firm has a fifty day moving average of $10.03 and a 200 day moving average of $9.39.

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.