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

Loop Industries, Inc. (NASDAQ:LOOP) Director Jay Howard Stubina bought 50,000 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was purchased at an average cost of $1.20 per share, for a total transaction of $60,000.00. Following the completion of the transaction, the director now directly owns 135,000 shares of the company’s stock, valued at approximately $162,000. The trade was a 58.82 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Loop Industries Price Performance

Shares of NASDAQ:LOOP opened at $1.18 on Thursday. 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 stock has a market capitalization of $56.19 million, a PE ratio of -2.11 and a beta of 1.57. The firm’s 50 day moving average price is $1.28 and its 200-day moving average price is $1.47. Loop Industries, Inc. has a twelve month low of $0.96 and a twelve month high of $3.60.

Loop Industries (NASDAQ:LOOP) last released its quarterly earnings results on Tuesday, January 14th. The financial services provider reported ($0.07) earnings per share for the quarter, topping 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%. Equities 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 lifted its stake in Loop Industries, Inc. (NASDAQ:LOOP) by 4.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 250,962 shares of the financial services provider’s stock after buying an additional 10,933 shares during the quarter. Geode Capital Management LLC owned about 0.53% of Loop Industries worth $462,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors 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.