Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
PyroGenesis Canada ( (TSE:PYR) ) just unveiled an update.
PyroGenesis Canada has successfully closed the first tranche of its non-brokered private placement, raising approximately $3.5 million through the sale of 5,555,556 units. Each unit comprises one common share and one warrant, with the proceeds intended for working capital and general corporate purposes. The company’s president and CEO, P. Peter Pascali, personally invested in the entire tranche, highlighting confidence in the company’s strategic direction. The private placement is conditionally approved by the TSX, pending final approval and customary closing conditions.
The most recent analyst rating on (TSE:PYR) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on PyroGenesis Canada stock, see the TSE:PYR Stock Forecast page.
Spark’s Take on TSE:PYR Stock
According to Spark, TipRanks’ AI Analyst, TSE:PYR is a Underperform.
PyroGenesis Canada faces significant financial challenges, with declining revenues and a highly leveraged balance sheet being the most critical factors. The technical analysis indicates a bearish trend, and the valuation metrics reflect the company’s unprofitable status. These factors collectively result in a low overall stock score.
To see Spark’s full report on TSE:PYR stock, click here.
More about PyroGenesis Canada
PyroGenesis Inc. is a leader in plasma technology, providing advanced engineering solutions for energy, propulsion, destruction, process heating, emissions, and materials development challenges across heavy industry and defense. The company serves global leaders in sectors such as aluminum, aerospace, steel, iron ore, utilities, environmental services, military, and government. Headquartered in Montreal, PyroGenesis is known for its innovation in energy transition and ultra-high temperature technology, with its operations being ISO 9001:2015 and AS9100D certified.
Average Trading Volume: 210,302
Technical Sentiment Signal: Sell
Current Market Cap: C$52.62M
Learn more about PYR stock on TipRanks’ Stock Analysis page.