Jay Howard Stubina Purchases 150,000 Shares of Loop Industries, Inc. (NASDAQ:LOOP) Stock

Key Points

• Director Jay Howard Stubina of Loop Industries acquired 150,000 shares at an average price of $1.01 per share, increasing his ownership to a total of 285,000 shares.
• Loop Industries reported $0.25 million in revenue for the last quarter, surpassing analyst expectations, while posting earnings per share of ($0.07).
• Recent institutional investments include new positions by several hedge funds, with 4.89% of the stock currently owned by institutional investors.

Loop Industries, Inc. (NASDAQ:LOOP - Get Free Report) Director Jay Howard Stubina acquired 150,000 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were purchased at an average cost of $1.01 per share, with a total value of $151,500.00. Following the completion of the acquisition, the director directly owned 285,000 shares in the company, valued at approximately $287,850. The trade was a 111.11% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Loop Industries Trading Down 8.3%

Shares of LOOP stock traded down $0.14 on Tuesday, reaching $1.54. The company had a trading volume of 444,150 shares, compared to its average volume of 531,544. The company has a current ratio of 2.81, a quick ratio of 2.79 and a debt-to-equity ratio of 7.56. The stock has a market cap of $73.49 million, a PE ratio of -5.50 and a beta of 1.78. The company has a 50-day moving average of $1.35 and a 200-day moving average of $1.21. 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 posted 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 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 forecast that Loop Industries, Inc. will post -0.47 earnings per share for the current year.

Institutional Investors Weigh In On Loop Industries

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

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.