Spencer Hart Buys 27,562 Shares of Loop Industries, Inc. (NASDAQ:LOOP) Stock

Key Points

• Director Spencer Hart bought 27,562 shares of Loop Industries at an average cost of $1.32 per share, increasing his total ownership to 311,249 shares, worth approximately $410,848.
• Loop Industries reported a revenue of $0.25 million for the quarter, meeting analysts' expectations, but has a negative return on equity of 354.97% and a negative net margin of 120.79%.
• Institutional investors currently own 4.89% of Loop Industries stock, with several recent acquisitions made by different firms valued at $30,000 to $78,000.

Loop Industries, Inc. (NASDAQ:LOOP - Get Free Report) Director Spencer Hart bought 27,562 shares of the stock in a transaction dated Friday, July 25th. The shares were acquired at an average cost of $1.32 per share, for a total transaction of $36,381.84. Following the completion of the acquisition, the director directly owned 311,249 shares of the company's stock, valued at approximately $410,848.68. This trade represents a 9.72% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Spencer Hart also recently made the following trade(s):

• On Monday, July 28th, Spencer Hart purchased 29,121 shares of Loop Industries stock. The stock was bought at an average cost of $1.65 per share, with a total value of $48,049.65.
• On Thursday, July 24th, Spencer Hart purchased 41,317 shares of Loop Industries stock. The stock was bought at an average cost of $1.25 per share, with a total value of $51,646.25.

Loop Industries Price Performance

LOOP stock traded up $0.32 during midday trading on Monday, reaching $1.68. The company had a trading volume of 3,229,417 shares, compared to its average volume of 180,959. The company has a market capitalization of $80.17 million, a price-to-earnings ratio of -6.00 and a beta of 1.78. The stock has a 50 day moving average price of $1.34 and a 200-day moving average price of $1.20. Loop Industries, Inc. has a 1-year low of $0.85 and a 1-year high of $2.29. 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 released its 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). 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 for the quarter, compared to analysts' expectations of $0.16 million. Equities research analysts expect that Loop Industries, Inc. will post -0.47 earnings per share for the current year.

Institutional Inflows and Outflows

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.