Insider Buying: Loop Industries, Inc. (NASDAQ:LOOP) Director Acquires 55,000 Shares of Stock

Loop Industries, Inc. (NASDAQ:LOOP) Director Spencer Hart purchased 55,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average price of $1.29 per share, for a total transaction of $70,950.00. Following the acquisition, the director now owns 180,216 shares of the company’s stock, valued at $232,478.64. This represents a 43.92 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Tuesday, February 18th, Spencer Hart purchased 21,245 shares of Loop Industries stock. The stock was bought at an average price of $1.21 per share, for a total transaction of $25,706.45.

Loop Industries Trading Down 2.3 %

NASDAQ:LOOP traded down $0.03 during trading hours on Thursday, hitting $1.25. The company had a trading volume of 93,166 shares, compared to its average volume of 95,181. The company has a market capitalization of $59.53 million, a PE ratio of -2.23 and a beta of 1.57. The stock has a 50-day moving average price of $1.21 and a 200 day moving average price of $1.40. Loop Industries, Inc. has a 52 week low of $0.96 and a 52 week high of $3.45. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.12 and a quick ratio of 0.11.

Loop Industries (NASDAQ:LOOP) last announced its earnings results on Tuesday, January 14th. The financial services provider reported ($0.07) EPS 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, equities research analysts predict that Loop Industries, Inc. will post -0.47 EPS for the current fiscal year.

Institutional Trading of Loop Industries

A number of hedge funds have recently modified their holdings of LOOP. Balboa Wealth Partners boosted its holdings in shares of Loop Industries by 24.3% during the 3rd quarter. Balboa Wealth Partners now owns 50,575 shares of the financial services provider’s stock valued at $93,000 after buying an additional 9,880 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Loop Industries by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 250,962 shares of the financial services provider’s stock worth $462,000 after purchasing an additional 10,933 shares during the last quarter. Virtu Financial LLC purchased a new position in Loop Industries in the 4th quarter worth about $33,000. CacheTech Inc. purchased a new position in Loop Industries in the 4th quarter worth about $30,000. Finally, 4WEALTH Advisors Inc. purchased a new position in Loop Industries in the 4th quarter worth about $60,000. 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.