Insider Buying: Loop Industries, Inc. (NASDAQ:LOOP) Director Acquires $25,706.45 in Stock

Loop Industries, Inc. (NASDAQ:LOOP) Director Spencer Hart acquired 21,245 shares of Loop Industries stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $1.21 per share, with a total value of $25,706.45. Following the purchase, the director now directly owns 52,015 shares in the company, valued at approximately $62,938.15. This trade represents a 69.04 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, February 20th, Spencer Hart purchased 55,000 shares of Loop Industries stock. The stock was bought at an average cost of $1.29 per share, for a total transaction of $70,950.00.

Loop Industries Stock Performance

NASDAQ LOOP opened at $1.36 on Friday. The company has a market capitalization of $64.76 million, a PE ratio of -2.43 and a beta of 1.57. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.11 and a current ratio of 0.12. Loop Industries, Inc. has a 52-week low of $0.96 and a 52-week high of $3.45. The company has a 50-day simple moving average of $1.20 and a 200 day simple moving average of $1.39.

Loop Industries (NASDAQ:LOOP) last released its earnings results on Tuesday, January 14th. The financial services provider reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. Loop Industries had a negative net margin of 21,561.11% and a negative return on equity of 350.30%. On average, research analysts predict that Loop Industries, Inc. will post -0.47 EPS for the current year.

Institutional Trading of Loop Industries

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Loop Industries by 4.6% in the third quarter. Geode Capital Management LLC now owns 250,962 shares of the financial services provider’s stock valued at $462,000 after buying an additional 10,933 shares during the period. Balboa Wealth Partners increased its holdings in Loop Industries by 24.3% in the 3rd quarter. Balboa Wealth Partners now owns 50,575 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 9,880 shares during the last quarter. Millennium Management LLC bought a new stake in Loop Industries in the 4th quarter valued at about $41,000. 4WEALTH Advisors Inc. purchased a new stake in Loop Industries during the fourth quarter valued at about $60,000. Finally, CacheTech Inc. purchased a new stake in Loop Industries during the fourth quarter valued at about $30,000. 4.89% of the stock is owned by hedge funds and other institutional investors.

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.