Pason Systems (OTCMKTS:PSYTF) Trading 0.3% Higher – Here’s Why

Pason Systems Inc. (OTCMKTS:PSYTF) shot up 0.3% during trading on Tuesday . The company traded as high as $8.8220 and last traded at $8.78. 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.

Wall Street Analyst Weigh In

PSYTF has been the topic of a number of recent research reports. BMO Capital Markets reiterated 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 note on Tuesday, May 5th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy”.

Pason Systems Trading Up 0.3%

The business’s 50-day moving average price is $9.84 and its two-hundred day moving average price is $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.