Loop Industries, Inc. (NASDAQ:LOOP) Director Buys $60,000.00 in Stock

Loop Industries, Inc. (NASDAQ:LOOP) Director Jay Howard Stubina purchased 50,000 shares of Loop Industries stock in a transaction dated Thursday, January 23rd. The shares were purchased at an average price of $1.20 per share, with a total value of $60,000.00. Following the completion of the transaction, the director now directly owns 135,000 shares in the company, valued at approximately $162,000. This represents a 58.82 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link.

Loop Industries Stock Performance

Loop Industries stock opened at $1.25 on Wednesday. The company has a quick ratio of 0.11, a current ratio of 0.12 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $59.53 million, a PE ratio of -2.23 and a beta of 1.57. The firm has a fifty day simple moving average of $1.28 and a two-hundred day simple moving average of $1.47. Loop Industries, Inc. has a twelve month low of $0.96 and a twelve month high of $3.65.

Loop Industries (NASDAQ:LOOP) last issued its quarterly earnings data on Tuesday, January 14th. The financial services provider reported ($0.07) EPS for the quarter, beating the consensus estimate 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%. Research analysts expect that Loop Industries, Inc. will post -0.47 EPS for the current year.

Hedge Funds Weigh In On Loop Industries

A hedge fund recently raised its stake in Loop Industries stock. Geode Capital Management LLC boosted its stake in Loop Industries, Inc. (NASDAQ:LOOP) by 4.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 250,962 shares of the financial services provider’s stock after purchasing an additional 10,933 shares during the period. Geode Capital Management LLC owned approximately 0.53% of Loop Industries worth $462,000 at the end of the most recent quarter. 4.89% of the stock is currently owned by 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.