Loop Industries, Inc. (NASDAQ:LOOP) Director Purchases $33,200.00 in Stock

Key Points

• Spencer Hart, a director at Loop Industries, purchased 20,000 shares at an average price of $1.66 each, totaling $33,200, increasing his holdings to 360,370 shares valued around $598,214.
• The company reported earnings of ($0.07) EPS, meeting expectations, but has a negative return on equity of 354.97% and a net margin of -120.79%.
• Loop Industries currently has a market capitalization of $74.92 million and has seen institutional investor interest, with various funds taking new positions in the company.

Loop Industries, Inc. (NASDAQ:LOOP - Get Free Report) Director Spencer Hart purchased 20,000 shares of Loop Industries stock in a transaction dated Tuesday, August 5th. The stock was bought at an average cost of $1.66 per share, with a total value of $33,200.00. Following the completion of the purchase, the director owned 360,370 shares in the company, valued at approximately $598,214.20. This trade represents a 5.88% 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 Monday, July 28th, Spencer Hart bought 29,121 shares of Loop Industries stock. The stock was purchased at an average price of $1.65 per share, with a total value of $48,049.65.
• On Friday, July 25th, Spencer Hart purchased 27,562 shares of Loop Industries stock. The shares were purchased at an average price of $1.32 per share, for a total transaction of $36,381.84.
• On Thursday, July 24th, Spencer Hart acquired 41,317 shares of Loop Industries stock. The stock was acquired at an average cost of $1.25 per share, for a total transaction of $51,646.25.

Loop Industries Price Performance

NASDAQ:LOOP traded down $0.13 during trading hours on Thursday, reaching $1.57. 119,882 shares of the company's stock were exchanged, compared to its average volume of 581,931. 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 capitalization of $74.92 million, a P/E ratio of -5.61 and a beta of 1.76. Loop Industries, Inc. has a 12 month low of $0.85 and a 12 month high of $2.29. The business's 50-day simple moving average is $1.45 and its two-hundred day simple moving average is $1.23.

Loop Industries (NASDAQ:LOOP - Get Free Report) last announced its earnings results on Tuesday, July 15th. The financial services provider reported ($0.07) EPS for the quarter, meeting the consensus estimate 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 the consensus estimate of $0.16 million. Sell-side analysts expect that Loop Industries, Inc. will post -0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Loop Industries

A number of hedge funds have recently bought and sold shares of the company. CacheTech Inc. acquired a new position in Loop Industries during the 4th quarter valued at $30,000. Millennium Management LLC bought a new position in shares of Loop Industries during the 4th quarter worth about $41,000. 4WEALTH Advisors Inc. bought a new position in shares of Loop Industries during the 4th quarter worth about $60,000. Finally, Towneley Capital Management Inc DE acquired a new position in shares of Loop Industries during the first quarter valued at about $78,000. 4.89% of the stock is currently owned by institutional investors.

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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