Loop Industries, Inc. (NASDAQ:LOOP) Director Spencer Hart Buys 55,000 Shares

Loop Industries, Inc. (NASDAQ:LOOP) Director Spencer Hart bought 55,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average cost of $1.29 per share, for a total transaction of $70,950.00. Following the completion of the purchase, the director now directly 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

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

Loop Industries Price Performance

LOOP traded down $0.03 on Thursday, reaching $1.25. The company had a trading volume of 93,166 shares, compared to its average volume of 95,181. The business has a 50 day simple moving average of $1.21 and a 200 day simple moving average of $1.40. The company has a market cap of $59.53 million, a price-to-earnings ratio of -2.23 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.

Loop Industries (NASDAQ:LOOP) last announced 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%. As a group, sell-side analysts anticipate that Loop Industries, Inc. will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Balboa Wealth Partners raised its stake in shares of 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 in the last quarter. Geode Capital Management LLC raised its stake in shares of 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 in the last quarter. CacheTech Inc. purchased a new position in shares of Loop Industries during the fourth quarter worth approximately $30,000. Virtu Financial LLC purchased a new position in shares of Loop Industries during the fourth quarter worth approximately $33,000. Finally, Millennium Management LLC purchased a new position in shares of Loop Industries during the fourth quarter worth approximately $41,000. 4.89% of the stock is owned by hedge funds and other institutional investors.

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.