Loop Industries, Inc. (NASDAQ:LOOP) Director Acquires $151,500.00 in 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 bought 150,000 shares of Loop Industries stock in a transaction that occurred on Wednesday, July 23rd. The shares were acquired at an average price of $1.01 per share, with a total value of $151,500.00. Following the acquisition, the director directly owned 285,000 shares of the company's stock, valued at $287,850. The trade was a 111.11% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Loop Industries Price Performance

Shares of NASDAQ LOOP traded up $0.10 during mid-day trading on Friday, reaching $1.36. 136,383 shares of the company were exchanged, compared to its average volume of 301,295. The company's 50-day simple moving average is $1.33 and its 200-day simple moving average is $1.20. The company has a debt-to-equity ratio of 7.56, a quick ratio of 2.79 and a current ratio of 2.81. Loop Industries, Inc. has a twelve month low of $0.85 and a twelve 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). The company had revenue of $0.25 million during the quarter, compared to analysts' expectations of $0.16 million. Loop Industries had a negative net margin of 120.79% and a negative return on equity of 354.97%. On average, research analysts predict that Loop Industries, Inc. will post -0.47 earnings per share for the current year.

Hedge Funds Weigh In On Loop Industries

Hedge funds have recently bought and sold shares of the business. 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. CacheTech Inc. bought a new position in Loop Industries during the fourth quarter worth about $30,000. 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 in the 1st quarter valued at about $78,000. 4.89% of the stock is owned by institutional investors.

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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