Pason Systems (OTCMKTS:PSYTF) Shares Up 0.5% – Time to Buy?

Pason Systems Inc. (OTCMKTS:PSYTF)’s share price shot up 0.5% during trading on Thursday . The stock traded as high as $10.4170 and last traded at $10.34. 10,286 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 16,739 shares. The stock had previously closed at $10.29.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PSYTF. 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 analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

Pason Systems Price Performance

The company has a fifty day moving average price of $9.81 and a two-hundred day moving average price of $9.20.

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.