Insider Buying: Loop Industries, Inc. (NASDAQ:LOOP) Director Acquires 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 bought 150,000 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were acquired at an average cost 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. This trade represents a 53.56% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Loop Industries Stock Performance

Shares of LOOP stock traded down $0.14 during trading hours on Tuesday, reaching $1.54. The stock had a trading volume of 444,150 shares, compared to its average volume of 531,544. The firm has a market capitalization of $73.49 million, a PE ratio of -5.50 and a beta of 1.78. The company has a debt-to-equity ratio of 7.56, a current ratio of 2.81 and a quick ratio of 2.79. The firm has a 50-day simple moving average of $1.35 and a 200-day simple moving average of $1.21. 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 announced its quarterly earnings data 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 net margin of 120.79% and a negative return on equity of 354.97%. The company had revenue of $0.25 million for the quarter, compared to analysts' expectations of $0.16 million. As a group, equities analysts forecast that Loop Industries, Inc. will post -0.47 earnings per share for the current year.

Institutional Trading of Loop Industries

A number of institutional investors have recently added to or reduced their stakes in the business. CacheTech Inc. bought a new position in shares of Loop Industries in the fourth quarter valued at approximately $30,000. Virtu Financial LLC bought a new position in Loop Industries during the fourth quarter worth $33,000. Millennium Management LLC bought a new stake in Loop Industries in the 4th quarter valued at $41,000. 4WEALTH Advisors Inc. bought a new stake in Loop Industries in the 4th quarter valued at $60,000. Finally, Towneley Capital Management Inc DE bought a new stake in Loop Industries in the 1st quarter valued at $78,000. 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.