Loop Industries (NASDAQ:LOOP) Stock Price Crosses 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 Tuesday . The stock has a 200-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 trading hands.

Loop Industries Trading Up 5.2%

The stock has a market capitalization of $77.31 million, a price-to-earnings ratio of -5.79 and a beta of 1.78. The business has a 50 day simple moving average of $1.37 and a 200-day simple moving average of $1.21. The company has a debt-to-equity ratio of 7.56, a current ratio of 2.81 and a quick ratio of 2.79.

Loop Industries (NASDAQ:LOOP - Get Free Report) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $0.16 million. As a group, equities analysts expect that Loop Industries, Inc. will post -0.47 earnings per share for the current year.

Insider Activity

In other Loop Industries news, Director Spencer Hart purchased 41,317 shares of the stock in a transaction on Thursday, July 24th. The stock was acquired at an average cost of $1.25 per share, with a total value of $51,646.25. Following the completion of the purchase, the director directly owned 283,687 shares of the company's stock, valued at approximately $354,608.75. This trade represents a 17.05% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Daniel Solomita acquired 906,794 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were purchased at an average cost of $1.01 per share, with a total value of $915,861.94. Following the completion of the purchase, the chief executive officer owned 1,415,516 shares of the company's stock, valued at approximately $1,429,671.16. The trade was a 178.25% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 1,454,794 shares of company stock worth $1,506,440. Corporate insiders own 45.90% of the company's stock.

Institutional Investors Weigh In On Loop Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Towneley Capital Management Inc DE purchased a new stake in Loop Industries in the first quarter worth approximately $78,000. Millennium Management LLC purchased a new stake in Loop Industries in the 4th quarter worth $41,000. 4WEALTH Advisors Inc. purchased a new stake in Loop Industries in the 4th quarter worth $60,000. CacheTech Inc. bought a new stake in shares of Loop Industries in the 4th quarter worth about $30,000. Finally, Virtu Financial LLC bought a new stake in shares of Loop Industries in the 4th quarter worth about $33,000. 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.