Have Insiders Sold PyroGenesis Shares Recently?

We wouldn't blame PyroGenesis Inc. (TSE:PYR) shareholders if they were a little worried about the fact that Photis Pascali, the President recently netted about CA$3.3m selling shares at an average price of CA$0.58. However, that sale only accounted for 7.3% of their holding, so arguably it doesn't say much about their conviction.

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PyroGenesis Insider Transactions Over The Last Year

In fact, the recent sale by Photis Pascali was the biggest sale of PyroGenesis shares made by an insider individual in the last twelve months, according to our records. That means that an insider was selling shares at slightly below the current price (CA$0.61). When an insider sells below the current price, it suggests that they considered that lower price to be fair. That makes us wonder what they think of the (higher) recent valuation. However, while insider selling is sometimes discouraging, it's only a weak signal. It is worth noting that this sale was only 7.3% of Photis Pascali's holding.

Over the last year, we can see that insiders have bought 1.58m shares worth CA$1.3m. But insiders sold 5.68m shares worth CA$3.3m. All up, insiders sold more shares in PyroGenesis than they bought, over the last year. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

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Insider Ownership Of PyroGenesis

Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. I reckon it's a good sign if insiders own a significant number of shares in the company. Insiders own 40% of PyroGenesis shares, worth about CA$44m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.

What Might The Insider Transactions At PyroGenesis Tell Us?

An insider hasn't bought PyroGenesis stock in the last three months, but there was some selling. Zooming out, the longer term picture doesn't give us much comfort. While insiders do own shares, they don't own a heap, and they have been selling. We're in no rush to buy! So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. Case in point: We've spotted 5 warning signs for PyroGenesis you should be aware of, and 3 of them are concerning.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.