Stock Trading Canary
| Period | Completed events | Price coverage | Hit rate | Median excess return | Average excess return | Worst excess return |
|---|---|---|---|---|---|---|
| 5D | 7Developing evidence | 100.0% (7/7) | 28.6% (2/7) | -9.5% | +16.5% | -12.1% |
| 20D | 7Developing evidence | 100.0% (7/7) | 57.1% (4/7) | +1.8% | -3.1% | -33.9% |
| 60D | 7Developing evidence | 100.0% (7/7) | 42.9% (3/7) | -28.8% | -20.1% | -51.0% |
| 120D | 7Developing evidence | 100.0% (7/7) | 57.1% (4/7) | +2.3% | -17.8% | -67.0% |
COMPANY RESEARCH
SARSYS-ASFT AB
SARS.ST · Sweden · Technology · Scientific & Technical Instruments
Filing summary
Latest qualifying equity purchase · trade date 2026-11-05 · filer Mikael Larsson · published 2026-11-06
No source link held for this record · Held 365-day filing window; a purchase code alone does not establish discretion.
Insider Signal
Snapshot: 06 Nov 2026 · 180-day research window
- Insider Signal
- 48.8 / 100 Research score, not a buy recommendation
- Reported buyers
- 1 180-day scoring window
- Net purchases
- 1.6k EUR 180 days · purchases less sales
- Latest disclosure
- 2026-11-06 Publication date
What stands out
- Mikael Larsson accounts for 100% of comparable reported purchase value; buyer breadth and value are different measures.
- The share price fell 34.2% over 180 days; inspect disclosure dates before interpreting the purchases.
Price vs insider buying
SARS.ST · SEK● Purchase × Sale ◇ Public disclosure ▥ 15-day cluster ·
Circles and crosses mark trade dates; diamonds below the axis mark later public disclosures. The trade became public on its disclosure date. Prices are nearest-session closes, not insider execution prices. Marker sizes are not compared when values or currencies differ.
BULL VS BEAR
Two readings of this buying
The same filings, read two ways. Each line is a fact stored for this company with the number behind it, and appears only when that number crosses a fixed threshold. Neither side is a forecast and no winner is declared.
All bull and bear lists, and what followed each line in the past →
Where the evidence comes from
The two kinds of evidence disagree: the purchases themselves carry bull lines (large purchases, bought in the last two weeks), while share price and trading argue against (price down over six months). No data is held for: company results, company actions.
- The insider purchases themselvesBulllarge purchases, bought in the last two weeks Bearone buyer only3 checked, under the threshold · 3 missing
- Share price and tradingBearprice down over six months, thinly traded1 checked, under the threshold
- Short sellers1 checked, under the threshold
- Company results1 missing
- Company actionsno data held
Bull case · the buying is informative
- Insider purchases in the last 20 sessions equal 12% of everything traded in the stock over those sessions.
- The latest purchase is 1 day old (2026-11-05). The buying is current, not left over from an earlier quarter.
Bear case · discount it
- Only one insider bought. A single purchase can reflect that person's own finances rather than a view on the company.Record: after 4,896 earlier disclosures like this, the median 60-session excess return was −3.0%, within 1 percentage point of all comparable disclosures (−3.4%).
- Share price and tradingThe share price is down 34% over six months (three months −20%, one month −19%) and stands 73% below its 52-week high. Insiders have bought into a fall the market has not reversed.Record (nearest stored case: price 20% or more below its prior 52-week high): after 11,059 earlier disclosures like this, the median 60-session excess return was −3.2%, within 1 percentage point of all comparable disclosures (−2.6%).
- Share price and tradingAbout €649 of the stock changes hands on an average day, below this site's €500k screening line. A position is hard to enter or leave at the quoted price.
Evidence still missing
- No buyer here has 5 or more completed earlier purchases on record, so there is no track record to weigh.
- No earnings, margin or cash-flow figures are captured for this company. The latest annual and interim reports are where to check whether the business is improving or deteriorating.
- European notifications have no field saying whether a purchase was pre-arranged; there is no counterpart to the US 10b5-1 box. None of the 2 purchase lines mentions a plan, but a bare “Förvärv” does not rule one out.
- The filings give the size of each trade, not what the buyer already held. Whether a purchase added 1% to a personal stake or doubled it is not known.
Checked and under the threshold: 5, 1 close to it
- BearOver three months the share price changed −20% and the median of 424 Technology companies changed −4.6%: behind by 15 points. Counted for the bear side from 20 points behind. close to the threshold
- Either1 insider bought in the last 180 days and 1 in the 180 days before. Bull when the number at least doubles and rises by two; bear when at least two bought before and no more buy now.
- Bear0 of 1 buyer filed as a person closely associated with a manager. Counted for the bear side from half.
- BearNo insider sale is recorded in the same 180 days.
- BearThe register of Finansinspektionen shows no published net short position in this company. Positions under 0.5% are never published, so this does not show that nobody is short.
Both columns arrange stored facts only. They do not change the insider score or the ranking and are not investment advice.
Who is trading?
Named filings in 180 days. Purchase values are summed only when complete and in one currency.
| Insider | Transaction activity | Purchase value | Latest trade | Details | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mikael LarssonBoard member | 2 buy · 0 sell | 17.6k SEK | 2026-11-05 | View transactions · 2
|
INSIDER SIGNAL
Score breakdown：48.8 / 100
1 insiders · 2 purchase events · €2k net purchases
Europe #688 · Sweden #169
WHY THIS SIGNAL?
Score anatomy
Each bar is that part's points in the score; the five parts add up to the score.
Number of buyers+10.5 / 35
How many different insiders bought within 15 days
Amount bought+11.9 / 25
The value bought, net of any insider sales
Buyers' roles+7.0 / 20
Lower in the company scores higher: in the backtest, purchases by the most senior insiders did worse
How recent+9.3 / 10
How long ago the latest purchase took place
Buying against selling+10.0 / 10
Lower when insiders also sold
What is holding the score back?
- ⚠ Few buyers · fewer than 4 different insiders
- ⚠ The amount bought is small on the score's scale
- ⚠ Buyers' roles add little · most senior buyer: Board member; the most senior score lowest
- ✓ Recent buying · latest purchase 2026-11-05
Buyers' roles follow the European ranking's order of roles: the most senior insiders score lowest.
Buying concentration
100%
Largest buyer：Mikael Larsson · 18k SEK
Purchases counted, before sales：18k SEK
The amount at the top of the page is purchases minus sales; this one counts purchases only, in the filing currency, so the two can differ. The score counts how many people bought; this shows separately who bought the most.
This is a ranking under the current European screening rules—not a probability of gain, return forecast, or buy recommendation.
Key purchase quotes (filing currency)
| Filer | Price per unit | Trade date |
|---|---|---|
| Mikael Larsson | 0.526 SEK | Nov 5, 2026 |
| Mikael Larsson | 0.532 SEK | Nov 4, 2026 |
Model details
Cluster breakdown (does not change the score)
- 15-day buyer breadth (count)
- 1 distinct reported filers
- Peak time window
- 2026-11-04 to 2026-11-05
- Current breadth input
- 0.300 (capped at 4+ buyers)
- Buyer independence
- Not yet measured; related-party fields are not cross-market comparable
What the filings show
- 🟢 Latest purchase counted
Mikael Larsson · 5k SEK · Price 0.526 SEK · Nov 5, 2026 - 🟢 Purchase counted
Mikael Larsson · 12k SEK · Price 0.532 SEK · Nov 4, 2026
Filing and data quality
These checks are auditable context; they do not change the rank or score.
- Identity match
- PASS · isin
- Ticker / ISIN
- Present
- Filing source links
- 0 / 10
- Median disclosure lag
- 4 days
- Latest disclosure age
- 0 days at snapshot
- Corrections / revisions
- 0
- Score-factor detail
- Saved
Insider timeline
One insider bought, 2 times, the latest (5 Nov). The share closed at 0.48 that day and at 0.48 most recently (+0.0%).
Tap an item for what it means.
●A purchase: the bigger the dot, the more was bought
Each dot is one insider's purchases on one day. The dot's area follows the amount: the largest purchase here gets the largest dot. Hold the pointer over a dot to see the date and the amount.
Blue line: this share's price, −34.2% over these six months
The closing price of each day, from 0.73 on 2026-05-11 to 0.48 on 2026-11-05. The line has no scale; read it for high and low: a dot on a low stretch was bought cheaply, a dot on a high stretch was not.
Dashed line: the typical stock on the same exchange, −6.8%
Taken from the 738 other stocks on the same exchange that this site holds prices for. Each is measured from the first day of the window, and every day the middle one is drawn. It starts where the blue line starts, so the gap between the two is the difference: this share −34.2%, the typical one −6.8%, 27.5 points behind. It is not an index and not a comparison within one industry.
▂Grey bars: companies across Europe disclosing purchases each week
A taller bar is a week in which more companies disclosed insider purchases.
This company: insiders buying per month, last 12 months
Dec
1Jan
1Feb
Mar
1Apr
May
Jun
Jul
Aug
Sep
Oct
1Nov
Darker bars are inside the 180-day window above.
Who traded
| Insider | Role | Purchases | Sales | Bought | First purchase | Share price since | Earlier purchases |
|---|---|---|---|---|---|---|---|
| Mikael Larsson | Board member | 2 | — | 17.6k SEK | 2026-11-04 | −9.8% | fewer than 5 completed |
Insiders' buying price vs the latest close
Insiders paid 0.5193 SEK a share on average (10 purchase lines, 2 buyers, 2026-01-08 – 2026-11-05). The close on 2026-11-05 was 7.6% below that price.
The latest purchase (2026-11-05) was at 0.5260 SEK; the close was 8.7% below that price.
Prices paid are weighted by shares and taken from the filings; dividends are not counted. Not scored.
Buying size vs market trading
12.29% · of estimated traded value in the same period
2026-10-09 – 2026-11-05 · 20 recorded trading sessions
- Disclosed qualifying purchases
- 17,588 SEK
- Estimated market traded value
- 143,085 SEK
Market-data coverage: 505 verified sessions · Latest session: 2026-11-05 · Ratio status: Available
Recent and largest purchase events / preceding 60-session ADTV
- Nov 05 · Mikael Larsson · Styrelseledamot5,489 SEK · 56.81%9,663 SEK ADTV
- Nov 04 · Mikael Larsson · Styrelseledamot12,099 SEK · 128.08%9,447 SEK ADTV
Traded value is estimated as close × shares traded, in major currency units. Includes disclosed qualifying purchases; disclosures may lag. Contractual or planned acquisitions are not necessarily discretionary. Ratios describe relative trading size, not market participation or score contributions.
Sector context
- Buying breadth
- 7.9% (59 / 746 issuers)
- Sector rank
- #8 / 12
- 7D breadth change
- +0.5 pp · vs 2026-10-29 (8d)
- 30D breadth change
- -0.5 pp · vs 2026-10-07 (30d)
This is sector-level research context. It does not affect the Insider Signal or ranking.
Insider profile outcomes
Historical performance following insider filings. The company role is translated below each name while preserving the original title.
- Excess return = stock return − OMX Stockholm 30 return over the same period.
- Hit rate = completed events with positive excess return ÷ total completed events.
- Price coverage = valid point-in-time prices ÷ events mature enough for that period.
- Returns start on the first shared trading session on or after publication.
- Small-sample rule: n<5 is shown for transparency and is not scored.
Events are disclosure-level observations; related disclosures published on the same date may share a return path and may not be statistically independent. This research enrichment does not affect the insider score or ranking.
Market context
PRICE PERFORMANCE
VOLATILITY & LIQUIDITY
- Volatility
- 196.8%
- Beta
- —
- Avg daily volume
- SEK 7,532.9
- 20-session drawdown
- -19.0%
- 60-session drawdown
- -33.2%
- Latest volume / prior median
- 6.0×
VALUATION
- Market cap
- SEK 94.1M
- Market cap (EUR ref.)
- €8.5M
- P/E
- —
FUNDAMENTALS
- Revenue
- —
- Net income
- —
- Operating profit
- —
- Equity
- —
- Cash
- —
- Debt
- —
- Operating cash flow
- —
- Free cash flow
- —
- Profit margin
- —
- ROE
- —
- Industry
- —
Prices to 07 Nov 2026: OpenBB/yfinance; volume from price cache (yfinance). From OpenBB/yfinance, captured 07 Nov 2026: Market cap. ECB EUR reference rate dated 2026-11-06; it is not a trade-date conversion. It does not affect the insider score or rank.
Disclosed net short positions
The Finansinspektionen register, read 07 Nov 2026, publishes no net short position of 0.5% or more in this issuer. Positions below 0.5% are never published, so this is not evidence that nobody is short.
Short-position disclosures are external context; they do not affect the insider score, ranking, or filing eligibility.
Insiders and institutions
Insiders, ranking window: €1.6k net bought · buyers: 1 · last 2026-11-05
Short sellers
Nothing at or above the publication threshold is on the Finansinspektionen register (read 2026-11-07).
Moves by named holders, last 12 months
No named holder's published position changed in the last 12 months.
Source: Finansinspektionen, read 2026-11-07. Where holders are named, only positions of 0.5% of issued capital or more are published, so these are lower bounds and a change is a change in what was published. Context only; not part of the score. All companies where insiders buy and short sellers hold positions →
Latest news
News capture status: ok. Articles were retained for audit but none met the reader threshold.
Historical news was captured later. It is context, not evidence of what was known on the board date.
Regulatory filings
The filing records held for this company carry no link to the original notice.
Search FI register ↗ · Search the Swedish regulator's register by issuer and trade date; this is a register link, not a direct notice URL.
Filing evidence
These are underlying national-feed records from the 365-day window ending on the saved ranking snapshot. The score uses only the latest 180 days; older qualifying equity purchases remain visible for audit but do not enter the current score. The original filer, role, transaction classification, instrument, price, volume, value and source fields are retained. The first three rows are shown; remaining records can be unfolded for audit. Other transaction types are retained but excluded from the score.
Excluded transactions & classification
10 qualifying purchase disclosure(s) · 10 transaction line(s)
Trade Nov 5, 2026Förvärv
Mikael Larsson · Styrelseledamot
Published Nov 6, 2026 · Aktie · 10436.0 shares × 0.526 SEK · —
Search FI registerTrade Nov 4, 2026Förvärv
Mikael Larsson · Styrelseledamot
Published Nov 6, 2026 · Aktie · 22742.0 shares × 0.532 SEK · —
Search FI registerTrade Apr 9, 2026Förvärv
Johan Länsberg · Styrelseordförande
Published Apr 13, 2026 · Aktie · 129001.0 shares × 0.5 SEK · —
Search FI registerUnfold all 7 remaining filing row(s)
| Transaction date | Published | Filer | Role | Transaction | Instrument | Price (local currency) | Quote currency | Volume | Source |
|---|---|---|---|---|---|---|---|---|---|
| 2026-04-09 | 2026-04-13 | Johan Länsberg | Styrelseordförande | Förvärv | Aktie | 0.45 SEK | SEK | 51000.0 | Search FI register |
| 2026-04-09 | 2026-04-13 | Johan Länsberg | Styrelseordförande | Förvärv | Aktie | 0.465 SEK | SEK | 1750.0 | Search FI register |
| 2026-04-09 | 2026-04-13 | Johan Länsberg | Styrelseordförande | Förvärv | Aktie | 0.47 SEK | SEK | 32929.0 | Search FI register |
| 2026-04-09 | 2026-04-13 | Johan Länsberg | Styrelseordförande | Förvärv | Aktie | 0.46 SEK | SEK | 28365.0 | Search FI register |
| 2026-02-04 | 2026-02-07 | Johan Länsberg | Styrelseordförande | Teckning | Aktie | 0.5 SEK | SEK | 421680.0 | Search FI register |
| 2026-02-04 | 2026-02-07 | Johan Länsberg | Styrelseordförande | Teckning | Aktie | 0.5 SEK | SEK | 14222938.0 | Search FI register |
| 2026-01-08 | 2026-01-12 | Johan Länsberg | Styrelseordförande | Förvärv | Aktie | 0.5966587112 SEK | SEK | 3771000.0 | Search FI register |
Showing 10 of 10 matching raw-feed row(s) from the current 365-day research window. Prices and reported values remain in the filing currency and its major unit (for example, UK pence are parsed as GBP). The screen-level € aggregate is separately FX-normalised for research ranking, not a trade-date conversion.
Other disclosed transactions · excluded from score
The underlying filing feed is unavailable in this snapshot; this is not a claim that no filings exist.
Follow new disclosures
Subscribe to new Europe disclosures. These are market-wide RSS feeds, not company-specific alerts.
Model & Sources
Signal history
48.8 / 100
Latest recorded score
↑ +12.3 ptsversus the comparable snapshot on 2026-10-06 (31 calendar days apart)
- Recorded snapshots
- 27
- First snapshot
- 2026-08-26
Only scores captured when the scoring run completed are compared. These are raw signal scores saved when each full scoring run completed. They describe changes in research ranking, not price performance or returns.
Why did it change?
Decomposition across the five score factors between comparable snapshots; historical scores are not recalculated.
- Amount bought-3.0 pts
- Buyers' roles+6.0 pts
- How recent+9.3 pts
Signal score history
Fixed 0–100 scale; dates are spaced by calendar time.
Recent recorded points
- 35.5
- 35.5
- 36.5
- 36.5
- 48.8
View all recorded scores
| Snapshot date | Signal score |
|---|---|
| 2026-08-26 | 35.5 |
| 2026-08-27 | 35.5 |
| 2026-08-28 | 35.5 |
| 2026-08-31 | 35.5 |
| 2026-09-01 | 35.5 |
| 2026-09-02 | 35.5 |
| 2026-09-03 | 35.5 |
| 2026-09-04 | 35.5 |
| 2026-09-07 | 36.5 |
| 2026-09-08 | 36.5 |
| 2026-09-09 | 36.5 |
| 2026-09-10 | 36.5 |
| 2026-09-11 | 36.5 |
| 2026-09-14 | 36.5 |
| 2026-09-23 | 36.5 |
| 2026-09-24 | 36.5 |
| 2026-09-25 | 36.5 |
| 2026-09-28 | 36.5 |
| 2026-09-29 | 36.5 |
| 2026-09-30 | 36.5 |
| 2026-10-01 | 36.5 |
| 2026-10-02 | 36.5 |
| 2026-10-03 | 36.5 |
| 2026-10-04 | 36.5 |
| 2026-10-05 | 36.5 |
| 2026-10-06 | 36.5 |
| 2026-11-06 | 48.8 |
Why this score? · Model details
Priority = 100 × Σ(fixed weight × 0–1 rule-based input)
| Factor | Weight | This company input | Point contribution |
|---|---|---|---|
| 15-day buyer breadth (count) | 35% | 0.300 | 10.5 |
| Qualified-buy size | 25% | 0.478 | 11.9 |
| Role informativeness (inverted) | 20% | 0.350 | 7.0 |
| Recency | 10% | 0.933 | 9.3 |
| Buy/sell conviction | 10% | 1.000 | 10.0 |
This is a heuristic ordering under the current rules, not a calibrated return forecast. It explains why candidates rank differently; the public-filing evidence and data limits are shown below.
Snapshot & identity
- Snapshot date
- 2026-11-06
- Ticker
- SARS.ST
- ISIN
- SE0009320294
- Sector
- Technology
- Industry
- Scientific & Technical Instruments
Company logos by Parqet