Loop Industries, Inc. (NASDAQ:LOOP) CEO Acquires $915,861.94 in Stock

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 purchased 906,794 shares of Loop Industries stock in a transaction on Wednesday, July 23rd. The shares were acquired at an average cost of $1.01 per share, with a total value of $915,861.94. Following the completion of the transaction, the chief executive officer directly owned 1,415,516 shares in the company, valued at $1,429,671.16. The trade was a 178.25% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Loop Industries Stock Performance

Shares of NASDAQ:LOOP traded down $0.14 during trading on Tuesday, hitting $1.54. 444,150 shares of the stock traded hands, compared to its average volume of 531,544. 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 company has a market cap of $73.49 million, a price-to-earnings ratio of -5.50 and a beta of 1.78. The company has a fifty day moving average price of $1.35 and a two-hundred day moving average price of $1.21. Loop Industries, Inc. has a 52-week low of $0.85 and a 52-week high of $2.29.

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

Institutional Investors Weigh In On Loop Industries

A number of large investors have recently modified their holdings of LOOP. Virtu Financial LLC purchased a new stake in shares of Loop Industries during the fourth quarter worth $33,000. CacheTech Inc. purchased a new stake in shares of Loop Industries during the fourth quarter worth $30,000. 4WEALTH Advisors Inc. acquired a new position in shares of Loop Industries during the 4th quarter valued at about $60,000. Millennium Management LLC acquired a new position in shares of Loop Industries during the 4th quarter valued at about $41,000. Finally, Towneley Capital Management Inc DE acquired a new position in shares of Loop Industries during the 1st quarter valued at about $78,000. Hedge funds and other 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.