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

Loop Industries, Inc. (NASDAQ:LOOP) Director Spencer Hart purchased 55,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was bought at an average cost of $1.29 per share, with a total value of $70,950.00. Following the purchase, the director now 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 accessible through the SEC website.

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 price 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 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 50 day moving average price of $1.20 and a two-hundred day moving average price of $1.39.

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, topping 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%. Equities analysts predict that Loop Industries, Inc. will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its position in shares of Loop Industries by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 250,962 shares of the financial services provider’s stock valued at $462,000 after purchasing an additional 10,933 shares in the last quarter. Balboa Wealth Partners lifted its stake in Loop Industries by 24.3% in the third quarter. Balboa Wealth Partners now owns 50,575 shares of the financial services provider’s stock valued at $93,000 after buying an additional 9,880 shares during the period. Millennium Management LLC bought a new position in shares of Loop Industries during the 4th quarter worth approximately $41,000. 4WEALTH Advisors Inc. acquired a new stake in shares of Loop Industries during the 4th quarter worth approximately $60,000. Finally, CacheTech Inc. bought a new stake in shares of Loop Industries in the 4th quarter valued at $30,000. 4.89% of the stock is owned by institutional investors.

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.