Loop Industries (NASDAQ:LOOP) Stock Passes Above Two Hundred Day Moving Average - Should You Sell?

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) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 traded.

Loop Industries Trading Down 1.6%

The company has a fifty day moving average of $1.52 and a two-hundred day moving average of $1.32. 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 stock has a market capitalization of $90.67 million, a price-to-earnings ratio of -6.79 and a beta of 1.77.

Loop Industries (NASDAQ:LOOP - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). Loop Industries had a negative return on equity of 354.97% and a negative net margin of 120.79%.The firm had revenue of $0.25 million during the quarter, compared to analyst estimates of $0.16 million. On average, research analysts expect that Loop Industries, Inc. will post -0.47 EPS for the current year.

Insider Transactions at Loop Industries

In other Loop Industries news, CEO Daniel Solomita purchased 906,794 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was bought at an average cost of $1.01 per share, for a total transaction of $915,861.94. Following the completion of the acquisition, the chief executive officer directly owned 1,415,516 shares in the company, valued at $1,429,671.16. This represents a 178.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Giovanni Catino purchased 150,000 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were acquired at an average price of $1.01 per share, with a total value of $151,500.00. Following the completion of the acquisition, the executive owned 150,000 shares of the company's stock, valued at approximately $151,500. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 1,474,794 shares of company stock worth $1,539,640. 45.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Corient Private Wealth LLC bought a new stake in shares of Loop Industries during the second quarter valued at approximately $346,000. Osaic Holdings Inc. increased its position in shares of 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 purchasing an additional 167,041 shares during the period. Towneley Capital Management Inc DE bought a new stake in shares of Loop Industries during the first quarter valued at approximately $78,000. Millennium Management LLC bought a new stake in shares of Loop Industries during the fourth quarter valued at approximately $41,000. Finally, Jane Street Group LLC bought a new stake in shares of Loop Industries during the second quarter valued at approximately $39,000. 4.89% of the stock is currently owned by institutional investors and hedge funds.

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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