Loop Industries, Inc. (NASDAQ:LOOP) Director Spencer Hart Buys 41,317 Shares

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 acquired 41,317 shares of the firm's stock in a transaction dated Thursday, July 24th. The stock was bought at an average price of $1.25 per share, with a total value of $51,646.25. Following the acquisition, the director directly owned 283,687 shares in the company, valued at $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 bought at an average price of $1.65 per share, with a total value of $48,049.65.
• On Friday, July 25th, Spencer Hart acquired 27,562 shares of Loop Industries stock. The stock was bought at an average price of $1.32 per share, with a total value of $36,381.84.

Loop Industries Stock Down 5.2%

Shares of NASDAQ LOOP traded down $0.09 during mid-day trading on Friday, hitting $1.55. The company had a trading volume of 145,155 shares, compared to its average volume of 184,661. The company has a market capitalization of $73.73 million, a PE ratio of -5.52 and a beta of 1.78. The firm has a 50-day simple moving average of $1.39 and a two-hundred day simple moving average of $1.21. 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 one year low of $0.85 and a one 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) 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 business had revenue of $0.25 million during the quarter, compared to analysts' expectations of $0.16 million. On average, equities analysts expect that Loop Industries, Inc. will post -0.47 EPS for the current year.

Hedge Funds Weigh In On Loop Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. CacheTech Inc. bought a new position in Loop Industries during the fourth quarter worth about $30,000. Virtu Financial LLC bought a new position in Loop Industries during the fourth quarter worth about $33,000. Millennium Management LLC bought a new position in Loop Industries during the fourth quarter worth about $41,000. 4WEALTH Advisors Inc. bought a new position in Loop Industries during the fourth quarter worth about $60,000. Finally, Towneley Capital Management Inc DE bought a new position in Loop Industries during the first quarter worth about $78,000. Institutional investors 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.