Giovanni Catino Buys 150,000 Shares of Loop Industries, Inc. (NASDAQ:LOOP) Stock

Key Points

• Giovanni Catino, the Chief Revenue Officer of Loop Industries, purchased 150,000 shares of the company for a total of $151,500, significantly increasing his ownership stake in the company.
• Loop Industries reported a $0.07 loss per share for the last quarter, meeting analysts' expectations, while also achieving revenues of $0.25 million.
• Institutional investors have shown interest in Loop Industries, with several firms acquiring new positions in the fourth quarter, amounting to 4.89% of the company's stock being held by institutions.

Loop Industries, Inc. (NASDAQ:LOOP - Get Free Report) CRO Giovanni Catino bought 150,000 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were purchased at an average cost of $1.01 per share, for a total transaction of $151,500.00. Following the completion of the transaction, the executive directly owned 150,000 shares of the company's stock, valued at $151,500. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Loop Industries Price Performance

Loop Industries stock traded up $0.10 during trading on Friday, hitting $1.36. 136,383 shares of the company were exchanged, compared to its average volume of 301,295. The business's 50 day moving average is $1.33 and its 200 day moving average is $1.20. Loop Industries, Inc. has a 52 week low of $0.85 and a 52 week high of $2.29. The company has a current ratio of 2.81, a quick ratio of 2.79 and a debt-to-equity ratio of 7.56.

Loop Industries (NASDAQ:LOOP - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). Loop Industries had a negative return on equity of 354.97% and a negative net margin of 120.79%. The business had revenue of $0.25 million during the quarter, compared to the consensus estimate of $0.16 million. As a group, equities analysts expect that Loop Industries, Inc. will post -0.47 EPS for the current year.

Institutional Investors Weigh In On Loop Industries

Institutional investors have recently bought and sold shares of the stock. CacheTech Inc. bought a new position in Loop Industries in the 4th quarter valued at $30,000. Virtu Financial LLC bought a new position in Loop Industries in the 4th quarter valued at $33,000. Millennium Management LLC bought a new position in Loop Industries in the 4th quarter valued at $41,000. 4WEALTH Advisors Inc. bought a new position in Loop Industries in the 4th quarter valued at $60,000. Finally, Towneley Capital Management Inc DE bought a new position in Loop Industries in the 1st quarter valued at $78,000. Institutional investors own 4.89% of the company's stock.

About Loop Industries

Loop Industries, Inc, a technology company, focuses on depolymerizing waste polyethylene terephthalate PET plastics and polyester fibers, including plastic bottles, packaging, carpets and textiles of any color, transparency and even ocean plastics that have been degraded by the sun and salt, to its base building blocks.

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