Loop Industries, Inc. (NASDAQ:LOOP) Director Acquires $48,049.65 in 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 acquired 29,121 shares of the stock in a transaction dated Monday, July 28th. The shares were purchased at an average price of $1.65 per share, for a total transaction of $48,049.65. Following the completion of the purchase, the director directly owned 340,370 shares in the company, valued at $561,610.50. The trade was a 9.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

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

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

Loop Industries Price Performance

Shares of NASDAQ:LOOP traded up $0.32 during trading on Monday, reaching $1.68. 3,229,417 shares of the company traded hands, compared to its average volume of 180,959. The company's 50 day moving average is $1.34 and its two-hundred day moving average is $1.20. The firm has a market capitalization of $80.17 million, a PE ratio of -6.00 and a beta of 1.78. 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, 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 posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported ($0.07) 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 return on equity of 354.97% and a negative net margin of 120.79%. As a group, sell-side analysts predict that Loop Industries, Inc. will post -0.47 earnings per share for the current year.

Institutional Trading of Loop Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. CacheTech Inc. bought a new stake in shares of Loop Industries in the 4th quarter valued at about $30,000. Virtu Financial LLC bought a new stake in shares of Loop Industries during the fourth quarter worth about $33,000. Millennium Management LLC acquired a new stake in shares of Loop Industries in the 4th quarter worth about $41,000. 4WEALTH Advisors Inc. acquired a new stake in shares of Loop Industries in the 4th quarter worth about $60,000. Finally, Towneley Capital Management Inc DE acquired a new stake in shares of Loop Industries in the 1st quarter worth about $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.

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