Loop Industries (NASDAQ:LOOP) Director Acquires 30,800 Shares of Stock

Loop Industries, Inc. (NASDAQ:LOOP) Director Jeffrey Richart Geygan bought 30,800 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were acquired at an average price of $0.73 per share, with a total value of $22,484.00. Following the acquisition, the director owned 3,331,904 shares of the company’s stock, valued at $2,432,289.92. This represents a 0.93% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Jeffrey Richart Geygan also recently made the following trade(s):

• On Wednesday, August 19th, Jeffrey Richart Geygan purchased 1,090 shares of Loop Industries stock. The stock was acquired at an average cost of $0.64 per share, with a total value of $697.60.
• On Tuesday, August 18th, Jeffrey Richart Geygan purchased 22,100 shares of Loop Industries stock. The stock was bought at an average price of $0.64 per share, for a total transaction of $14,144.00.
• On Thursday, July 30th, Jeffrey Richart Geygan acquired 62,895 shares of Loop Industries stock. The shares were bought at an average cost of $0.75 per share, for a total transaction of $47,171.25.
• On Wednesday, July 29th, Jeffrey Richart Geygan acquired 6,610 shares of Loop Industries stock. The stock was bought at an average price of $0.73 per share, with a total value of $4,825.30.

Loop Industries Trading Down 1.9%

NASDAQ:LOOP opened at $0.62 on Thursday. The company has a 50-day moving average price of $0.79 and a 200-day moving average price of $1.14. Loop Industries, Inc. has a 12 month low of $0.62 and a 12 month high of $2.11. The stock has a market cap of $30.01 million, a price-to-earnings ratio of -2.39 and a beta of 1.48.

Loop Industries (NASDAQ:LOOP) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The company had revenue of $0.18 million for the quarter, compared to the consensus estimate of $0.54 million. Equities analysts forecast that Loop Industries, Inc. will post -0.22 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Zacks Research lowered Loop Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of LOOP. 4WEALTH Advisors Inc. purchased a new stake in Loop Industries in the first quarter worth about $38,000. Susquehanna International Group LLP purchased a new position in shares of Loop Industries during the third quarter valued at approximately $49,000. Citadel Advisors LLC lifted its holdings in shares of Loop Industries by 564.3% during the third quarter. Citadel Advisors LLC now owns 44,536 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 54,129 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Loop Industries by 40.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 74,289 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 21,502 shares in the last quarter. Finally, CacheTech Inc. boosted its position in shares of Loop Industries by 38.8% in the 1st quarter. CacheTech Inc. now owns 36,870 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 10,310 shares in the last quarter. 4.89% of the stock is owned by hedge funds and other institutional investors.

Loop Industries Company Profile

Loop Industries (NASDAQ:LOOP) is a technology innovator in the sustainable plastics sector. The company has developed a proprietary depolymerization process that breaks down end-of-life polyethylene terephthalate (PET) plastic and polyester fiber into their base molecules. These purified monomers are then repolymerized into virgin-quality PET resin suitable for new packaging applications, creating a closed-loop recycling solution that addresses global plastic waste challenges.

With its headquarters in Terrebonne, Quebec, Loop Industries operates pilot and demonstration facilities to validate and refine its technology.