Pason Systems Inc. (PSI) Stock Rating Lowered by GMP Securities

Pason Systems Inc. (TSE:PSI) was downgraded by analysts at GMP Securities from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Separately, AltaCorp Capital reiterated a “sector perform” rating on shares of Pason Systems in a report on Monday, July 11th.

Pason Systems (TSE:PSI) traded down 1.489% during midday trading on Tuesday, reaching $16.865. The company’s stock had a trading volume of 62,752 shares. The firm has a 50 day moving average price of $17.26 and a 200-day moving average price of $17.40. Pason Systems has a 12-month low of $14.46 and a 12-month high of $21.41. The company’s market cap is $1.42 billion.

In other Pason Systems news, insider Marcel Kessler purchased 3,000 shares of Pason Systems stock in a transaction dated Thursday, September 8th. The shares were purchased at an average cost of C$17.64 per share, for a total transaction of C$52,920.00. Also, insider Ronald Dudar sold 2,400 shares of the stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of C$19.25, for a total value of C$46,200.00.

About Pason Systems

Pason Systems Inc is a provider of data management systems for drilling rigs. The Company offers solutions, which include data acquisition, wellsite reporting, remote communications, and Web-based information management, enables collaboration between the rig and the office. It operates through three geographic segments: Canada, the United States, and International (Latin America, Offshore, the Eastern Hemisphere and the Middle East).

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