Spencer Hart Purchases 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 purchased 27,562 shares of the stock in a transaction dated Friday, July 25th. The shares were bought at an average price of $1.32 per share, with a total value 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 represents a 9.72% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, July 28th, Spencer Hart purchased 29,121 shares of Loop Industries stock. The shares were bought at an average price 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 shares were bought at an average price of $1.25 per share, with a total value of $51,646.25.

Loop Industries Price Performance

Shares of NASDAQ:LOOP traded down $0.09 during trading on Friday, hitting $1.55. 145,155 shares of the company were exchanged, compared to its average volume of 184,661. The business's 50 day moving average is $1.39 and its 200-day moving average is $1.21. The company has a market capitalization of $73.73 million, a P/E ratio of -5.52 and a beta of 1.78. The company has a quick ratio of 2.79, a current ratio of 2.81 and a debt-to-equity ratio of 7.56. Loop Industries, Inc. has a 1-year low of $0.85 and a 1-year high of $2.29.

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, hitting the consensus estimate of ($0.07). Loop Industries had a negative net margin of 120.79% and a negative return on equity of 354.97%. The company had revenue of $0.25 million during the quarter, compared to the consensus estimate of $0.16 million. Equities analysts forecast that Loop Industries, Inc. will post -0.47 earnings per share for the current year.

Institutional Trading of Loop Industries

Institutional investors have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in shares of Loop Industries in the fourth quarter worth $33,000. Millennium Management LLC bought a new stake in shares of Loop Industries in the fourth quarter worth $41,000. CacheTech Inc. bought a new stake in shares of Loop Industries in the fourth quarter worth $30,000. 4WEALTH Advisors Inc. bought a new stake in shares of Loop Industries in the fourth quarter worth $60,000. Finally, Towneley Capital Management Inc DE bought a new stake in shares of Loop Industries in the first quarter worth $78,000. Institutional investors own 4.89% of the company's stock.

About Loop Industries

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.