Pason Systems (TSE:PSI) Stock Passes Below 200-Day Moving Average of $16.76

Pason Systems Inc. (TSE:PSI) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $16.76 and traded as low as $12.81. Pason Systems shares last traded at $12.81, with a volume of 700,904 shares changing hands.

Several equities analysts have recently weighed in on the stock. CIBC reduced their target price on shares of Pason Systems from C$22.00 to C$20.00 in a research note on Thursday, November 7th. BMO Capital Markets dropped their price target on shares of Pason Systems from C$24.00 to C$21.00 in a research note on Tuesday, September 10th. Finally, National Bank Financial cut their price objective on shares of Pason Systems from C$20.00 to C$17.00 and set an “outperform” rating for the company in a report on Thursday, November 7th.

The business’s 50-day moving average price is C$13.89 and its 200 day moving average price is C$16.63. The stock has a market capitalization of $1.09 billion and a PE ratio of 17.23. The company has a debt-to-equity ratio of 4.11, a quick ratio of 6.61 and a current ratio of 7.12.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.76 annualized dividend and a dividend yield of 5.91%. Pason Systems’s payout ratio is currently 97.33%.

In related news, Senior Officer Marcel Kessler acquired 2,785 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average cost of C$12.61 per share, for a total transaction of C$35,104.93. Following the completion of the transaction, the insider now owns 62,923 shares in the company, valued at C$793,144.42. Also, Senior Officer Jonathan Faber acquired 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was bought at an average price of C$16.50 per share, for a total transaction of C$66,000.00. Following the completion of the transaction, the insider now owns 21,500 shares of the company’s stock, valued at approximately C$354,750.

About Pason Systems (TSE:PSI)

Pason Systems Inc provides instrumentation and data management systems for drilling rigs. The company offers Electronic AutoDriller, which maximizes the rate of penetration by monitoring multiple drilling parameters; Electronic Choke Actuator that provides a means of remotely controlling the choke valve; and Electronic Drilling Recorder.

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