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

Key Points

• Loop Industries' stock has recently surpassed its two hundred day moving average, reaching a high of $1.99 during trading, with current trading at $1.90.
• The company reported earnings of ($0.07) per share, matching analyst expectations, with a negative return on equity of 354.97% and negative net margins of 120.79% for the quarter.
• Insider transactions were significant, as CEO Daniel Solomita and CRO Giovanni Catino purchased substantial shares, increasing their ownership by 178.25% and contributing to nearly 45.90% of the stock being held by insiders.

Loop Industries, Inc. (NASDAQ:LOOP - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.32 and traded as high as $1.99. Loop Industries shares last traded at $1.90, with a volume of 43,532 shares.

Loop Industries Stock Down 1.7%

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 company has a fifty day simple moving average of $1.57 and a 200 day simple moving average of $1.33. The firm has a market capitalization of $84.46 million, a P/E ratio of -6.32 and a beta of 1.77.

Loop Industries (NASDAQ:LOOP - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $0.25 million for the quarter, compared to the consensus estimate of $0.16 million. Loop Industries had a negative return on equity of 354.97% and a negative net margin of 120.79%. On average, equities analysts expect that Loop Industries, Inc. will post -0.47 EPS for the current fiscal year.

Insider Activity

In other Loop Industries news, Director Spencer Hart purchased 41,317 shares of the stock in a transaction dated Thursday, July 24th. The shares were purchased at an average cost of $1.25 per share, with a total value of $51,646.25. Following the completion of the acquisition, the director directly owned 283,687 shares in the company, valued at $354,608.75. This trade represents a 17.05% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jay Howard Stubina purchased 150,000 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were acquired at an average cost of $1.01 per share, for a total transaction of $151,500.00. Following the completion of the acquisition, the director owned 285,000 shares of the company's stock, valued at approximately $287,850. This represents a 111.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 1,474,794 shares of company stock valued at $1,539,640. Corporate insiders own 45.90% of the company's stock.

Institutional Trading of Loop Industries

Hedge funds have recently bought and sold shares of the company. Millennium Management LLC purchased a new stake in Loop Industries during the fourth quarter valued at $41,000. Towneley Capital Management Inc DE purchased a new stake in Loop Industries during the first quarter valued at $78,000. Corient Private Wealth LLC purchased a new stake in Loop Industries during the second quarter valued at $346,000. Osaic Holdings Inc. increased its position in Loop Industries by 17,220.7% during the second quarter. Osaic Holdings Inc. now owns 168,011 shares of the financial services provider's stock valued at $239,000 after acquiring an additional 167,041 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in Loop Industries during the second quarter valued at $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.