Insider Buying: Loop Industries, Inc. (NASDAQ:LOOP) Director Buys 29,937 Shares of Stock

Loop Industries, Inc. (NASDAQ:LOOP) Director Laurence G. Sellyn bought 29,937 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were purchased at an average price of $1.05 per share, for a total transaction of $31,433.85. Following the completion of the purchase, the director now directly owns 197,833 shares of the company’s stock, valued at approximately $207,724.65. This trade represents a 17.83 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Loop Industries Stock Performance

Loop Industries stock traded up $0.02 during trading hours on Thursday, reaching $1.16. 191,012 shares of the stock were exchanged, compared to its average volume of 135,079. Loop Industries, Inc. has a 52-week low of $0.96 and a 52-week high of $3.65. 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’s 50 day moving average is $1.29 and its 200 day moving average is $1.50. The stock has a market cap of $55.24 million, a P/E ratio of -2.07 and a beta of 1.57.

Loop Industries (NASDAQ:LOOP) last posted its earnings results on Tuesday, January 14th. The financial services provider reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. Loop Industries had a negative return on equity of 350.30% and a negative net margin of 21,561.11%. Analysts predict that Loop Industries, Inc. will post -0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Loop Industries

An institutional investor recently raised its position in Loop Industries stock. Balboa Wealth Partners grew its stake in Loop Industries, Inc. (NASDAQ:LOOP) by 24.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,575 shares of the financial services provider’s stock after purchasing an additional 9,880 shares during the quarter. Balboa Wealth Partners owned approximately 0.11% of Loop Industries worth $93,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 4.89% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Cormark raised Loop Industries to a “moderate buy” rating in a report on Monday, September 30th.

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.