Pason Systems Inc. (OTCMKTS:PSYTF – Get Free Report) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totaling 1,126,690 shares, a decrease of 38.4% from the July 15th total of 1,828,840 shares. Based on an average trading volume of 48,469 shares, the days-to-cover ratio is presently 23.2 days.
Pason Systems Trading Up 0.4%
Shares of OTCMKTS:PSYTF opened at $10.49 on Tuesday. Pason Systems has a 12 month low of $7.89 and a 12 month high of $11.33. The company’s fifty day moving average price is $9.19 and its 200 day moving average price is $9.51.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on PSYTF. Royal Bank Of Canada reissued an “outperform” rating on shares of Pason Systems in a research report on Wednesday, August 12th. TD Securities raised Pason Systems from a “hold” rating to a “buy” rating in a report on Tuesday, May 5th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Pason Systems in a research note on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Pason Systems has a consensus rating of “Buy”.
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.
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