Loop Industries, Inc. (NASDAQ:LOOP) CEO Daniel Solomita Acquires 906,794 Shares

Key Points

• CEO Daniel Solomita of Loop Industries acquired 906,794 shares at an average price of $1.01, significantly increasing his ownership by 178.25%.
• Loop Industries reported ($0.07) earnings per share for the most recent quarter, in line with analysts' expectations, and had a revenue of $0.25 million.
• Institutional investors now own 4.89% of Loop Industries' stock, with several firms acquiring stakes during the fourth quarter.

Loop Industries, Inc. (NASDAQ:LOOP - Get Free Report) CEO Daniel Solomita acquired 906,794 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were purchased at an average price of $1.01 per share, with a total value of $915,861.94. Following the completion of the acquisition, the chief executive officer owned 1,415,516 shares in the company, valued at approximately $1,429,671.16. The trade was a 178.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Loop Industries Price Performance

NASDAQ:LOOP traded up $0.10 during trading hours on Friday, hitting $1.36. The stock had a trading volume of 136,383 shares, compared to its average volume of 301,295. The business has a 50 day simple moving average of $1.33 and a two-hundred day simple moving average of $1.20. Loop Industries, Inc. has a 1-year low of $0.85 and a 1-year high of $2.29. The company has a quick ratio of 2.79, a current ratio of 2.81 and a debt-to-equity ratio of 7.56.

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 for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $0.16 million. Analysts expect that Loop Industries, Inc. will post -0.47 EPS for the current year.

Institutional Investors Weigh In On Loop Industries

A number of institutional investors have recently modified their holdings of the stock. CacheTech Inc. acquired a new stake in Loop Industries during the fourth quarter worth about $30,000. Virtu Financial LLC acquired a new stake in Loop Industries during the fourth quarter worth about $33,000. Millennium Management LLC acquired a new stake in Loop Industries during the fourth quarter worth about $41,000. 4WEALTH Advisors Inc. acquired a new stake in Loop Industries during the fourth quarter worth about $60,000. Finally, Towneley Capital Management Inc DE acquired a new stake in Loop Industries during the first quarter worth about $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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