Insider Buying: Loop Industries, Inc. (NASDAQ:LOOP) CEO Purchases $915,861.94 in Stock

Loop Industries, Inc. (NASDAQ:LOOP) CEO Daniel Solomita bought 906,794 shares of the firm’s stock in a transaction on Wednesday, July 23rd. The shares were purchased at an average cost of $1.01 per share, with a total value of $915,861.94. Following the completion of the transaction, the chief executive officer owned 1,415,516 shares in the company, valued at $1,429,671.16. This represents a 178.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Loop Industries Trading Up 7.9%

Shares of NASDAQ LOOP opened at $1.36 on Monday. The company has a quick ratio of 2.79, a current ratio of 2.81 and a debt-to-equity ratio of 7.56. The business has a fifty day simple moving average of $1.34 and a two-hundred day simple moving average of $1.20. The firm has a market cap of $64.90 million, a PE ratio of -4.86 and a beta of 1.78. Loop Industries, Inc. has a twelve month low of $0.85 and a twelve month high of $2.29.

Loop Industries (NASDAQ:LOOP) last issued its earnings results on Tuesday, July 15th. The financial services provider reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). The business had revenue of $0.25 million during the quarter, compared to analyst estimates of $0.16 million. Loop Industries had a negative return on equity of 354.97% and a negative net margin of 120.79%. Analysts expect that Loop Industries, Inc. will post -0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Loop Industries

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in Loop Industries during the 4th quarter valued at $33,000. Millennium Management LLC bought a new stake in Loop Industries during the 4th quarter valued at $41,000. CacheTech Inc. bought a new position in shares of Loop Industries in the 4th quarter worth $30,000. 4WEALTH Advisors Inc. bought a new position in shares of Loop Industries in the 4th quarter worth $60,000. Finally, Towneley Capital Management Inc DE bought a new position in shares of Loop Industries in the 1st quarter worth $78,000. 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.