Pason Systems (TSE:PSI) Share Price Passes Below 200 Day Moving Average - Here's Why

Pason Systems Inc. (TSE:PSI - Get Free Report)'s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$13.11 and traded as low as C$11.71. Pason Systems shares last traded at C$11.80, with a volume of 112,161 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PSI shares. TD Securities cut their price objective on shares of Pason Systems from C$16.00 to C$13.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Royal Bank of Canada decreased their price target on shares of Pason Systems from C$18.00 to C$16.00 and set an "outperform" rating for the company in a report on Thursday, April 17th.

Pason Systems Price Performance

The stock has a fifty day moving average of C$11.88 and a 200 day moving average of C$13.11. The stock has a market cap of C$939.32 million, a price-to-earnings ratio of 8.33, a P/E/G ratio of 10.78 and a beta of 1.58. The company has a debt-to-equity ratio of 3.19, a current ratio of 2.59 and a quick ratio of 3.54.

Pason Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.41%. Pason Systems's payout ratio is 36.70%.

Insider Buying and Selling

In other Pason Systems news, Senior Officer Kevin Boston sold 5,000 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of C$11.94, for a total transaction of C$59,700.00. Also, Director James Lee Bowzer purchased 2,500 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was acquired at an average cost of C$11.32 per share, for a total transaction of C$28,303.88. 0.13% of the stock is currently owned by insiders.

Pason Systems Company Profile

Pason Systems Inc, together with its subsidiaries, provides instrumentation and data management systems for drilling rigs in Canada, the United States, and internationally. The company provides Electronic Drilling Recorder, which provides real-time drilling data to rig site personnel; DataHub with Pason Live, which is used as the central repository for data and reports captured at the rigs for real-time; and DataLink that provides automated in-house databases, third-party analytics platforms, remote geosteering, and other remote services.

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