Insider Buying: Loop Industries, Inc. (NASDAQ:LOOP) Director Buys 41,317 Shares of Stock

Key Points

• Loop Industries, Inc. Director Spencer Hart purchased 41,317 shares of stock at an average price of $1.25, totaling approximately $51,646.25, increasing his ownership by 17.05%.
• The company's stock experienced a rise, trading at $1.68 with a market cap of $80.17 million and a negative PE ratio of -6.00.
• Loop Industries reported ($0.07) earnings per share for the last quarter and had a negative return on equity of 354.97%, with total revenue of $0.25 million.

Loop Industries, Inc. (NASDAQ:LOOP - Get Free Report) Director Spencer Hart bought 41,317 shares of the business's stock in a transaction on Thursday, July 24th. The shares were bought at an average price of $1.25 per share, for a total transaction of $51,646.25. Following the completion of the acquisition, the director owned 283,687 shares of the company's stock, valued at approximately $354,608.75. This represents a 17.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Spencer Hart also recently made the following trade(s):

• On Monday, July 28th, Spencer Hart acquired 29,121 shares of Loop Industries stock. The stock was purchased at an average price of $1.65 per share, with a total value of $48,049.65.
• On Friday, July 25th, Spencer Hart bought 27,562 shares of Loop Industries stock. The stock was purchased at an average price of $1.32 per share, for a total transaction of $36,381.84.

Loop Industries Stock Performance

LOOP traded up $0.32 during trading on Monday, hitting $1.68. The stock had a trading volume of 3,229,417 shares, compared to its average volume of 180,959. The firm has a market cap of $80.17 million, a PE ratio of -6.00 and a beta of 1.78. The company has a 50 day simple moving average of $1.34 and a 200-day simple moving average of $1.20. 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, Inc. has a 12 month low of $0.85 and a 12 month high of $2.29.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. CacheTech Inc. bought a new stake in shares of Loop Industries in the 4th quarter worth approximately $30,000. Virtu Financial LLC bought a new stake in shares of Loop Industries in the 4th quarter worth approximately $33,000. Millennium Management LLC bought a new stake in shares of Loop Industries in the 4th quarter worth approximately $41,000. 4WEALTH Advisors Inc. bought a new stake in shares of Loop Industries in the 4th quarter worth approximately $60,000. Finally, Towneley Capital Management Inc DE bought a new stake in shares of Loop Industries in the 1st quarter worth approximately $78,000. Institutional investors and hedge funds own 4.89% of the company's stock.

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.

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