Insider Buying: Loop Industries, Inc. (NASDAQ:LOOP) Director Purchases $70,950.00 in Stock

Loop Industries, Inc. (NASDAQ:LOOP) Director Spencer Hart acquired 55,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was purchased at an average cost of $1.29 per share, for a total transaction of $70,950.00. Following the completion of the acquisition, the director now directly owns 180,216 shares of the company’s stock, valued at approximately $232,478.64. This trade represents a 43.92 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

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

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

Loop Industries Stock Up 9.7 %

Loop Industries stock opened at $1.36 on Friday. The firm has a market cap of $64.76 million, a price-to-earnings ratio of -2.43 and a beta of 1.57. Loop Industries, Inc. has a 52 week low of $0.96 and a 52 week high of $3.45. The business’s 50-day moving average price is $1.20 and its 200 day moving average price is $1.39. The company has a quick ratio of 0.11, a current ratio of 0.12 and a debt-to-equity ratio of 0.93.

Loop Industries (NASDAQ:LOOP) last posted its earnings results on Tuesday, January 14th. The financial services provider reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.02. Loop Industries had a negative return on equity of 350.30% and a negative net margin of 21,561.11%. As a group, sell-side analysts anticipate that Loop Industries, Inc. will post -0.47 earnings per share for the current year.

Institutional Trading of Loop Industries

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in Loop Industries by 4.6% during the third quarter. Geode Capital Management LLC now owns 250,962 shares of the financial services provider’s stock worth $462,000 after acquiring an additional 10,933 shares during the period. Balboa Wealth Partners grew its holdings in Loop Industries by 24.3% during the third 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 period. Millennium Management LLC purchased a new position in Loop Industries during the fourth quarter worth approximately $41,000. 4WEALTH Advisors Inc. purchased a new position in Loop Industries during the fourth quarter worth approximately $60,000. Finally, CacheTech Inc. purchased a new position in Loop Industries during the fourth quarter worth approximately $30,000. 4.89% of the stock is owned by institutional investors and hedge funds.

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.