Loop Industries (NASDAQ:LOOP) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Loop Industries' stock price has recently surpassed its 200-day moving average, now trading at $1.55 with a notable high of $1.61 during the session.
• The company reported a negative net margin of 120.79% and a PE ratio of -5.54, indicating ongoing financial struggles despite revenue surpassing analyst expectations.
• Recent insider transactions show significant buying activity, with directors acquiring over 191,000 shares, demonstrating confidence in the company's future prospects.

Loop Industries, Inc. (NASDAQ:LOOP - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.25 and traded as high as $1.61. Loop Industries shares last traded at $1.55, with a volume of 87,007 shares changing hands.

Loop Industries Trading Down 1.6%

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 stock has a fifty day simple moving average of $1.46 and a 200 day simple moving average of $1.25. The firm has a market capitalization of $72.30 million, a P/E ratio of -5.41 and a beta of 1.76.

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, meeting analysts' consensus estimates of ($0.07). The business had revenue of $0.25 million for 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, research analysts forecast that Loop Industries, Inc. will post -0.47 EPS for the current year.

Insider Activity

In related news, Director Laurence G. Sellyn purchased 150,000 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was bought at an average price of $1.01 per share, for a total transaction of $151,500.00. Following the completion of the transaction, the director owned 430,050 shares in the company, valued at approximately $434,350.50. The trade was a 53.56% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Giovanni Catino purchased 150,000 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was bought at an average price of $1.01 per share, with a total value of $151,500.00. Following the transaction, the executive owned 150,000 shares of the company's stock, valued at $151,500. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 1,474,794 shares of company stock valued at $1,539,640. 45.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Loop Industries

Several hedge funds and other institutional investors have recently modified their holdings of the business. Corient Private Wealth LLC purchased a new stake in shares of Loop Industries in the second quarter worth approximately $346,000. Jane Street Group LLC bought a new position in Loop Industries in the second quarter worth approximately $39,000. Towneley Capital Management Inc DE acquired a new position in shares of Loop Industries during the first quarter worth $78,000. Millennium Management LLC acquired a new position in shares of Loop Industries during the fourth quarter worth $41,000. Finally, 4WEALTH Advisors Inc. acquired a new position in shares of Loop Industries during the fourth quarter worth $60,000. 4.89% of the stock is currently owned by hedge funds and other institutional investors.

Loop Industries Company Profile

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.