Loop Industries, Inc. (NASDAQ:LOOP) Short Interest Update

Key Points

• Short interest in Loop Industries, Inc. dropped by 28.7% in August, totaling 500,100 shares, which represents approximately 2.3% of the company's shares being short sold.
• Insiders have purchased 1,474,794 shares worth approximately $1.54 million over the last three months, increasing their ownership to 45.90% of the company.
• Loop Industries reported a quarterly earnings loss of ($0.07) per share, with revenues of $0.25 million, exceeding analysts' estimates of $0.16 million.

Loop Industries, Inc. (NASDAQ:LOOP - Get Free Report) saw a significant decrease in short interest in August. As of August 15th, there was short interest totaling 500,100 shares, a decrease of 28.7% from the July 31st total of 701,300 shares. Based on an average trading volume of 350,700 shares, the short-interest ratio is presently 1.4 days. Currently, 2.3% of the company's stock are sold short. Currently, 2.3% of the company's stock are sold short. Based on an average trading volume of 350,700 shares, the short-interest ratio is presently 1.4 days.

Insider Activity at Loop Industries

In related news, Director Jay Howard Stubina acquired 150,000 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was bought at an average price 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 approximately $287,850. The trade was a 111.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Giovanni Catino acquired 150,000 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were bought at an average cost of $1.01 per share, with a total value of $151,500.00. Following the transaction, the executive directly owned 150,000 shares of the company's stock, valued at $151,500. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 1,474,794 shares of company stock valued at $1,539,640 over the last three months. Insiders own 45.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new position in Loop Industries in the second quarter valued at $39,000. Millennium Management LLC bought a new position in Loop Industries in the fourth quarter valued at $41,000. Towneley Capital Management Inc DE bought a new position in Loop Industries in the first quarter valued at $78,000. Osaic Holdings Inc. grew its position in Loop Industries by 17,220.7% in 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 in the last quarter. Finally, Corient Private Wealth LLC acquired a new stake in Loop Industries in the second quarter valued at $346,000. Institutional investors own 4.89% of the company's stock.

Loop Industries Stock Up 5.5%

Shares of LOOP stock traded up $0.10 during trading hours on Friday, hitting $1.93. 212,751 shares of the company were exchanged, compared to its average volume of 106,512. The company has a market capitalization of $92.10 million, a PE ratio of -6.89 and a beta of 1.77. Loop Industries has a 52 week low of $0.85 and a 52 week high of $2.29. The business has a 50 day moving average of $1.50 and a two-hundred day moving average of $1.31. The company has a current ratio of 2.81, a quick ratio of 2.79 and a debt-to-equity ratio of 7.56.

Loop Industries (NASDAQ:LOOP - Get Free Report) last released its earnings results on Tuesday, July 15th. The financial services provider reported ($0.07) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.07). The business had revenue of $0.25 million during the quarter, compared to the consensus estimate of $0.16 million. Loop Industries had a negative net margin of 120.79% and a negative return on equity of 354.97%. Analysts anticipate that Loop Industries will post -0.47 earnings per share for the current fiscal year.

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.