Insider Buying: Loop Industries, Inc. (NASDAQ:LOOP) Director Buys 150,000 Shares of Stock

Key Points

• Laurence G. Sellyn, a director at Loop Industries, purchased 150,000 shares of the company at an average price of $1.01, increasing his total ownership to 430,050 shares.
• Loop Industries' stock price increased by 7.9%, reaching $1.36, with a total of 136,383 shares traded during the session.
• The company's recent quarterly results showed an EPS of ($0.07) and revenue of $0.25 million, surpassing analyst expectations of $0.16 million.

Loop Industries, Inc. (NASDAQ:LOOP - Get Free Report) Director Laurence G. Sellyn acquired 150,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The stock was acquired at an average price of $1.01 per share, for a total transaction of $151,500.00. Following the completion of the acquisition, the director directly owned 430,050 shares of the company's stock, valued at $434,350.50. The trade was a 53.56% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Loop Industries Stock Up 7.9%

NASDAQ:LOOP traded up $0.10 during trading hours on Friday, reaching $1.36. 136,383 shares of the stock were exchanged, compared to its average volume of 301,295. The company has a quick ratio of 2.79, a current ratio of 2.81 and a debt-to-equity ratio of 7.56. The business has a 50-day moving average of $1.33 and a two-hundred day moving average of $1.20. Loop Industries, Inc. has a twelve month low of $0.85 and a twelve month high of $2.29.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Towneley Capital Management Inc DE acquired a new stake in shares of Loop Industries in the first quarter valued at $78,000. 4WEALTH Advisors Inc. acquired a new stake in shares of Loop Industries in the fourth quarter valued at $60,000. Millennium Management LLC acquired a new stake in shares of Loop Industries in the fourth quarter valued at $41,000. Virtu Financial LLC acquired a new stake in shares of Loop Industries in the fourth quarter valued at $33,000. Finally, CacheTech Inc. acquired a new stake in shares of Loop Industries in the fourth quarter valued at $30,000. 4.89% of the stock is currently owned by institutional investors and hedge funds.

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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