Pason Systems Inc. (OTCMKTS:PSYTF) Sees Significant Growth in Short Interest

Pason Systems Inc. (OTCMKTS:PSYTFGet Rating) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 92,700 shares, an increase of 81.4% from the March 15th total of 51,100 shares. Based on an average daily volume of 8,800 shares, the days-to-cover ratio is currently 10.5 days.

Several equities analysts recently issued reports on PSYTF shares. National Bank Financial lifted their price objective on Pason Systems from C$12.25 to C$14.50 in a report on Monday, January 10th. BMO Capital Markets lifted their price objective on Pason Systems from C$14.50 to C$15.50 in a report on Wednesday, February 23rd.

Pason Systems stock traded down $0.06 during trading on Friday, hitting $13.30. The company’s stock had a trading volume of 700 shares, compared to its average volume of 4,073. The stock’s fifty day moving average is $11.28 and its 200 day moving average is $9.49. Pason Systems has a 1-year low of $5.95 and a 1-year high of $13.47.

Pason Systems Company Profile (Get Rating)

Pason Systems Inc, an energy services and technology company, provides data management systems for drilling rigs in Canada, the United States, and internationally. The company offers Electronic Drilling Recorder, which monitors and records drilling operations around the rig; DataHub for storing data and information collected from the rig for on-demand retrieval; DataLink service provides direct connection interfaces for IT systems and analytics tools; Pason Live for monitoring rig operations in real-time using desktop computers or mobile devices; and daily and end-of-well KPI reports provide visual statistics on rig performance.

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