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

Loop Industries, Inc. (NASDAQ:LOOP - Get Free Report) Director Spencer Hart acquired 55,000 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were bought at an average cost of $1.29 per share, with a total value of $70,950.00. Following the completion of the acquisition, the director now owns 180,216 shares in the company, 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 SEC, which is available at this hyperlink.

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

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

Loop Industries Stock Performance

Shares of NASDAQ LOOP traded up $0.12 during midday trading on Friday, hitting $1.36. The company's stock had a trading volume of 179,902 shares, compared to its average volume of 62,691. Loop Industries, Inc. has a 1-year low of $0.96 and a 1-year high of $3.45. The firm's fifty day moving average price is $1.20 and its 200-day moving average price is $1.39. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.11 and a current ratio of 0.12. The firm has a market cap of $64.76 million, a P/E ratio of -2.43 and a beta of 1.57.

Loop Industries (NASDAQ:LOOP - Get Free Report) last posted its quarterly earnings results on Tuesday, January 14th. The financial services provider reported ($0.07) EPS for the quarter, beating 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%. On average, sell-side analysts forecast that Loop Industries, Inc. will post -0.47 EPS for the current fiscal year.

Institutional Trading of Loop Industries

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in shares of 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 worth $462,000 after acquiring an additional 10,933 shares in the last quarter. Balboa Wealth Partners increased its position in shares of Loop Industries by 24.3% in 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. Millennium Management LLC purchased a new position in shares of Loop Industries in the fourth quarter worth approximately $41,000. 4WEALTH Advisors Inc. purchased a new position in shares of Loop Industries in the fourth quarter worth approximately $60,000. Finally, CacheTech Inc. purchased a new position in Loop Industries during the fourth quarter valued at approximately $30,000. 4.89% of the stock is currently owned by 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.