Spencer Hart Acquires 20,000 Shares of Loop Industries, Inc. (NASDAQ:LOOP) 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 bought 20,000 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The shares were bought at an average price of $1.66 per share, with a total value of $33,200.00. Following the transaction, the director directly owned 360,370 shares in the company, valued at $598,214.20. This trade represents a 5.88% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 acquired at an average cost of $1.65 per share, for a total transaction of $48,049.65.
• On Friday, July 25th, Spencer Hart bought 27,562 shares of Loop Industries stock. The stock was 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 stock was acquired at an average cost of $1.25 per share, for a total transaction of $51,646.25.

Loop Industries Price Performance

Shares of LOOP traded up $0.03 on Monday, hitting $1.66. The company's stock had a trading volume of 16,023 shares, compared to its average volume of 183,179. The company has a market capitalization of $79.02 million, a PE ratio of -5.91 and a beta of 1.76. The company has a debt-to-equity ratio of 7.56, a current ratio of 2.81 and a quick ratio of 2.79. Loop Industries, Inc. has a fifty-two week low of $0.85 and a fifty-two week high of $2.29. The company has a 50 day moving average price of $1.46 and a 200 day moving average price of $1.24.

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, hitting the consensus estimate of ($0.07). The business had revenue of $0.25 million for the quarter, compared to the consensus estimate of $0.16 million. Loop Industries had a negative return on equity of 354.97% and a negative net margin of 120.79%. On average, research analysts anticipate that Loop Industries, Inc. will post -0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LOOP. CacheTech Inc. acquired a new position in Loop Industries during the 4th quarter worth $30,000. 4WEALTH Advisors Inc. bought a new stake in shares of Loop Industries during the fourth quarter worth $60,000. Millennium Management LLC bought a new stake in shares of Loop Industries during the fourth quarter worth $41,000. Finally, Towneley Capital Management Inc DE bought a new stake in shares of Loop Industries during the first quarter worth $78,000. 4.89% of the stock is 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.