Loop Industries (NASDAQ:LOOP) Shares Cross Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Loop Industries' stock traded above its 200-day moving average at $1.50, closing at $1.47 with a volume of 35,943 shares on Friday.
• CEO Daniel Solomita acquired 906,794 shares at $1.01 each, increasing his ownership by 178.25% and bringing his total holdings to 1,415,516 shares valued at approximately $1.43 million.
• Loop Industries reported earnings of ($0.07) EPS for the last quarter, matching analysts' expectations, and had a market cap of $70.15 million with a debt-to-equity ratio of 7.56.

Loop Industries, Inc. (NASDAQ:LOOP - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.26 and traded as high as $1.50. Loop Industries shares last traded at $1.47, with a volume of 35,943 shares trading hands.

Loop Industries Stock Up 5.0%

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 firm has a market cap of $70.15 million, a PE ratio of -5.25 and a beta of 1.76. The stock has a fifty day moving average price of $1.44 and a 200-day moving average price of $1.26.

Loop Industries (NASDAQ:LOOP - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 analysts' expectations of $0.16 million. Research analysts expect that Loop Industries, Inc. will post -0.47 EPS for the current year.

Insider Buying and Selling at Loop Industries

In other news, CEO Daniel Solomita bought 906,794 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was acquired at an average price of $1.01 per share, for a total transaction of $915,861.94. Following the acquisition, the chief executive officer owned 1,415,516 shares of the company's stock, valued at $1,429,671.16. This trade represents a 178.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jay Howard Stubina bought 150,000 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were purchased at an average price of $1.01 per share, with a total value of $151,500.00. Following the acquisition, the director directly owned 285,000 shares in the company, valued at approximately $287,850. This trade represents a 111.11% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 1,474,794 shares of company stock worth $1,539,640. Company insiders own 45.90% of the company's stock.

Institutional Trading of Loop Industries

A number of institutional investors have recently modified their holdings of the company. Millennium Management LLC purchased a new position in Loop Industries in the 4th quarter worth approximately $41,000. 4WEALTH Advisors Inc. purchased a new position in Loop Industries in the 4th quarter worth approximately $60,000. Towneley Capital Management Inc DE purchased a new position in Loop Industries in the 1st quarter worth approximately $78,000. Corient Private Wealth LLC purchased a new position in Loop Industries in the 2nd quarter worth approximately $346,000. Finally, Jane Street Group LLC purchased a new position in Loop Industries in the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 4.89% of the company's stock.

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.

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