Loop Industries (NASDAQ:LOOP) Shares Cross Above 200 Day Moving Average - Here's Why

Key Points

• Loop Industries' stock price recently crossed above its 200-day moving average, trading as high as $1.52 with a last recorded price of $1.49.
• The company reported negative earnings of ($0.07) per share for the last quarter, meeting analyst expectations but reflecting significant financial challenges with a negative net margin of 120.79%.
• Insiders have been active in acquiring shares, with notable purchases by CRO Giovanni Catino and Director Jay Howard Stubina, increasing their holdings significantly and indicating confidence in the company's future.

Loop Industries, Inc. (NASDAQ:LOOP - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.35 and traded as high as $1.52. Loop Industries shares last traded at $1.49, with a volume of 37,297 shares changing hands.

Loop Industries Trading Up 0.7%

The company has a debt-to-equity ratio of 7.56, a quick ratio of 2.79 and a current ratio of 2.81. The stock's 50-day simple moving average is $1.62 and its 200-day simple moving average is $1.35. The firm has a market capitalization of $71.10 million, a PE ratio of -5.32 and a beta of 1.91.

Loop Industries (NASDAQ:LOOP - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 net margin of 120.79% and a negative return on equity of 354.97%. As a group, sell-side analysts expect that Loop Industries, Inc. will post -0.47 EPS for the current fiscal year.

Insider Transactions at Loop Industries

In other news, CRO Giovanni Catino acquired 150,000 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The shares were bought at an average cost 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 trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jay Howard Stubina acquired 150,000 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The shares were purchased at an average cost of $1.01 per share, for a total transaction of $151,500.00. Following the completion of the transaction, the director directly owned 285,000 shares in the company, valued at $287,850. The trade was a 111.11% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 1,474,794 shares of company stock worth $1,539,640. 45.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Loop Industries

Institutional investors have recently made changes to their positions in the business. Jane Street Group LLC bought a new position in shares of Loop Industries in the 2nd quarter worth approximately $39,000. Millennium Management LLC bought a new stake in Loop Industries during the 4th quarter worth approximately $41,000. Towneley Capital Management Inc DE bought a new stake in Loop Industries during the 1st quarter worth approximately $78,000. Osaic Holdings Inc. raised its stake in Loop Industries by 17,220.7% during the 2nd quarter. Osaic Holdings Inc. now owns 168,011 shares of the financial services provider's stock worth $239,000 after acquiring an additional 167,041 shares during the period. Finally, Corient Private Wealth LLC bought a new stake in Loop Industries during the 2nd quarter worth approximately $346,000. 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.

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