Loop Industries (NASDAQ:LOOP) Stock Passes Above 200 Day Moving Average - What's Next?

Loop Industries, Inc. (NASDAQ:LOOP - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.21 and traded as high as $1.68. Loop Industries shares last traded at $1.54, with a volume of 444,150 shares changing hands.

Loop Industries Stock Performance

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 company has a market cap of $73.01 million, a P/E ratio of -5.46 and a beta of 1.78. The company's 50-day moving average price is $1.40 and its two-hundred day moving average price is $1.22.

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

Insiders Place Their Bets

In related news, CRO Giovanni Catino purchased 150,000 shares of Loop Industries stock in a transaction dated Wednesday, July 23rd. The stock was acquired at an average cost of $1.01 per share, with a total value of $151,500.00. Following the completion of the transaction, the executive directly owned 150,000 shares of the company's stock, valued at $151,500. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jay Howard Stubina purchased 150,000 shares of Loop Industries stock in a transaction dated Wednesday, July 23rd. The stock was bought at an average cost of $1.01 per share, with a total value of $151,500.00. Following the completion of the transaction, the director directly owned 285,000 shares of the company's stock, valued at $287,850. This represents a 111.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 1,454,794 shares of company stock valued at $1,506,440 over the last ninety days. Insiders own 45.90% of the company's stock.

Hedge Funds Weigh In On Loop Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CacheTech Inc. acquired a new stake in shares of Loop Industries in the 4th quarter valued at $30,000. Millennium Management LLC bought a new position in shares of Loop Industries in the fourth quarter valued at about $41,000. 4WEALTH Advisors Inc. bought a new position in shares of Loop Industries in the fourth quarter valued at about $60,000. Finally, Towneley Capital Management Inc DE bought a new position in shares of Loop Industries in the first quarter valued at about $78,000. Institutional investors and hedge funds 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.