Insider Buying: Loop Industries, Inc. (NASDAQ:LOOP) Director Acquires 21,245 Shares of Stock

Loop Industries, Inc. (NASDAQ:LOOP) Director Spencer Hart purchased 21,245 shares of the stock in a transaction on Tuesday, February 18th. The shares were acquired at an average price of $1.21 per share, for a total transaction of $25,706.45. Following the transaction, the director now directly owns 52,015 shares of the company’s stock, valued at $62,938.15. This represents a 69.04 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

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

Loop Industries Price Performance

Shares of NASDAQ LOOP opened at $1.25 on Friday. The firm has a 50-day simple moving average of $1.21 and a 200-day simple moving average of $1.40. The company has a current ratio of 0.12, a quick ratio of 0.11 and a debt-to-equity ratio of 0.93. Loop Industries, Inc. has a 52 week low of $0.96 and a 52 week high of $3.45.

Loop Industries (NASDAQ:LOOP) last issued its earnings results on Tuesday, January 14th. The financial services provider reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Equities research analysts predict that Loop Industries, Inc. will post -0.47 EPS for the current year.

Hedge Funds Weigh In On Loop Industries

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in 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 last quarter. Balboa Wealth Partners raised its stake in shares of Loop Industries by 24.3% in the 3rd quarter. Balboa Wealth Partners now owns 50,575 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 9,880 shares during the period. Millennium Management LLC acquired a new position in shares of Loop Industries in the 4th quarter worth approximately $41,000. 4WEALTH Advisors Inc. purchased a new position in shares of Loop Industries during the 4th quarter worth approximately $60,000. Finally, CacheTech Inc. purchased a new stake in Loop Industries in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 4.89% of the company’s stock.

Loop Industries Company Profile

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.