Loop Industries (NASDAQ:LOOP) Director Purchases $14,144.00 in Stock

Loop Industries, Inc. (NASDAQ:LOOP) Director Jeffrey Richart Geygan acquired 22,100 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was acquired at an average price of $0.64 per share, with a total value of $14,144.00. Following the completion of the transaction, the director directly owned 3,354,004 shares of the company’s stock, valued at approximately $2,146,562.56. This represents a 0.66% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, August 19th, Jeffrey Richart Geygan bought 1,090 shares of Loop Industries stock. The shares were acquired at an average cost of $0.64 per share, with a total value of $697.60.
• On Friday, July 31st, Jeffrey Richart Geygan bought 30,800 shares of Loop Industries stock. The shares were acquired at an average price of $0.73 per share, for a total transaction of $22,484.00.
• On Thursday, July 30th, Jeffrey Richart Geygan bought 62,895 shares of Loop Industries stock. The shares were acquired at an average price of $0.75 per share, for a total transaction of $47,171.25.
• On Wednesday, July 29th, Jeffrey Richart Geygan purchased 6,610 shares of Loop Industries stock. The stock was bought at an average cost of $0.73 per share, for a total transaction of $4,825.30.

Loop Industries Stock Performance

Shares of NASDAQ LOOP opened at $0.62 on Friday. The firm has a market cap of $29.95 million, a PE ratio of -2.38 and a beta of 1.48. The firm has a fifty day moving average of $0.78 and a 200 day moving average of $1.13. Loop Industries, Inc. has a one year low of $0.56 and a one year high of $2.11.

Loop Industries (NASDAQ:LOOP) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The business had revenue of $0.18 million for the quarter, compared to the consensus estimate of $0.54 million. On average, equities analysts predict that Loop Industries, Inc. will post -0.22 EPS for the current fiscal year.

Institutional Trading of Loop Industries

A number of institutional investors have recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in shares of Loop Industries during the second quarter worth approximately $39,000. Corient Private Wealth LLC purchased a new position in Loop Industries in the 2nd quarter valued at $346,000. Osaic Holdings Inc. boosted its stake in Loop Industries by 17,220.7% during the 2nd quarter. Osaic Holdings Inc. now owns 168,011 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 167,041 shares during the last quarter. Citadel Advisors LLC boosted its stake in Loop Industries by 564.3% during the 3rd quarter. Citadel Advisors LLC now owns 44,536 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 54,129 shares during the last quarter. Finally, Susquehanna International Group LLP purchased a new stake in shares of Loop Industries during the third quarter worth $49,000. 4.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.