Insider Buying: Loop Industries, Inc. (NASDAQ:LOOP) Director Acquires 29,121 Shares of Stock

Key Points

• Loop Industries Director Spencer Hart acquired 29,121 shares at an average price of $1.65, totaling $48,049.65, increasing his ownership stakes by 9.36%.
• The company's stock price showed a recent increase, trading at $1.68 with a market capitalization of $80.17 million and a PE ratio of -6.00.
• Loop Industries reported quarterly earnings on July 15, with an EPS of ($0.07), meeting analyst expectations and generating revenue of $0.25 million, exceeding estimates.

Loop Industries, Inc. (NASDAQ:LOOP - Get Free Report) Director Spencer Hart purchased 29,121 shares of the company's stock in a transaction dated Monday, July 28th. The stock was acquired at an average price of $1.65 per share, with a total value of $48,049.65. Following the completion of the transaction, the director owned 340,370 shares of the company's stock, valued at $561,610.50. This represents a 9.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Spencer Hart also recently made the following trade(s):

• On Friday, July 25th, Spencer Hart purchased 27,562 shares of Loop Industries stock. The stock was acquired at an average price of $1.32 per share, with a total value of $36,381.84.
• On Thursday, July 24th, Spencer Hart purchased 41,317 shares of Loop Industries stock. The stock was acquired at an average price of $1.25 per share, with a total value of $51,646.25.

Loop Industries Price Performance

Shares of NASDAQ LOOP traded down $0.09 during midday trading on Friday, reaching $1.55. The company's stock had a trading volume of 145,155 shares, compared to its average volume of 184,661. 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 fifty-two week low of $0.85 and a fifty-two week high of $2.29. The business's 50 day moving average price is $1.39 and its two-hundred day moving average price is $1.21. The company has a market cap of $73.73 million, a P/E ratio of -5.52 and a beta of 1.78.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. CacheTech Inc. acquired a new position in Loop Industries during the fourth quarter valued at approximately $30,000. Virtu Financial LLC acquired a new position in Loop Industries during the fourth quarter valued at approximately $33,000. Millennium Management LLC acquired a new position in Loop Industries during the fourth quarter valued at approximately $41,000. 4WEALTH Advisors Inc. acquired a new position in Loop Industries during the fourth quarter valued at approximately $60,000. Finally, Towneley Capital Management Inc DE acquired a new position in Loop Industries during the first quarter valued at approximately $78,000. 4.89% of the stock is currently owned by institutional investors and hedge funds.

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.