Loop Industries, Inc. (NASDAQ:LOOP) CRO Buys $151,500.00 in 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 acquired 150,000 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was purchased at an average cost of $1.01 per share, with a total value of $151,500.00. Following the acquisition, the executive directly owned 150,000 shares of the company's stock, valued at $151,500. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Loop Industries Price Performance

Shares of LOOP stock traded down $0.14 on Tuesday, reaching $1.54. 444,150 shares of the company were exchanged, compared to its average volume of 531,544. The company has a market cap of $73.49 million, a price-to-earnings ratio of -5.50 and a beta of 1.78. The business has a 50-day moving average price of $1.35 and a 200 day moving average price of $1.21. The company has a debt-to-equity ratio of 7.56, a quick ratio of 2.79 and a current ratio of 2.81. Loop Industries, Inc. has a 1 year low of $0.85 and a 1 year high of $2.29.

Loop Industries (NASDAQ:LOOP - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported ($0.07) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.07). The firm had revenue of $0.25 million for the quarter, compared to analyst estimates of $0.16 million. Loop Industries had a negative net margin of 120.79% and a negative return on equity of 354.97%. Equities research analysts forecast that Loop Industries, Inc. will post -0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Loop Industries

Several institutional investors and hedge funds have recently bought and sold shares of the company. CacheTech Inc. acquired a new position in shares of Loop Industries in the 4th quarter worth approximately $30,000. Virtu Financial LLC purchased a new stake in shares of Loop Industries in the 4th quarter valued at approximately $33,000. Millennium Management LLC purchased a new position in shares of Loop Industries in the 4th quarter valued at $41,000. 4WEALTH Advisors Inc. acquired a new stake in Loop Industries during the 4th quarter worth $60,000. Finally, Towneley Capital Management Inc DE acquired a new stake in Loop Industries during the 1st quarter worth $78,000. 4.89% of the stock is currently owned by institutional investors and hedge funds.

Loop Industries Company Profile

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.