Loop Industries (NASDAQ:LOOP) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Loop Industries, Inc. (NASDAQ:LOOP - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.20 and traded as high as $1.29. Loop Industries shares last traded at $1.23, with a volume of 112,465 shares trading hands.

Loop Industries Trading Up 7.9%

The company has a market cap of $64.90 million, a P/E ratio of -4.86 and a beta of 1.78. The company has a current ratio of 2.81, a quick ratio of 2.79 and a debt-to-equity ratio of 7.56. The business has a 50 day moving average price of $1.34 and a 200-day moving average price of $1.20.

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

Insider Buying and Selling

In other Loop Industries news, Director Laurence G. Sellyn purchased 150,000 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were acquired at an average cost of $1.01 per share, for a total transaction of $151,500.00. Following the completion of the acquisition, the director owned 430,050 shares of the company's stock, valued at $434,350.50. The trade was a 53.56% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jay Howard Stubina acquired 150,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were bought at an average price of $1.01 per share, for a total transaction of $151,500.00. Following the completion of the purchase, the director owned 285,000 shares in the company, valued at $287,850. This trade represents a 111.11% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 1,356,794 shares of company stock worth $1,370,362 in the last ninety days. Corporate insiders own 45.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. CacheTech Inc. bought a new position in shares of Loop Industries in the 4th quarter worth approximately $30,000. Virtu Financial LLC purchased a new stake in shares of Loop Industries in the 4th quarter worth approximately $33,000. Millennium Management LLC purchased a new stake in shares of Loop Industries in the 4th quarter worth approximately $41,000. 4WEALTH Advisors Inc. purchased a new stake in shares of Loop Industries in the 4th quarter worth approximately $60,000. Finally, Towneley Capital Management Inc DE purchased a new stake in shares of Loop Industries in the 1st quarter worth approximately $78,000. Institutional investors own 4.89% of the company's stock.

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.