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

Loop Industries, Inc. (NASDAQ:LOOP) Director Spencer Hart bought 55,000 shares of the stock in a transaction on Thursday, February 20th. The shares were acquired at an average cost of $1.29 per share, for a total transaction of $70,950.00. Following the purchase, the director now owns 180,216 shares in the company, valued at $232,478.64. The trade was a 43.92 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Spencer Hart also recently made the following trade(s):

• On Tuesday, February 18th, Spencer Hart purchased 21,245 shares of Loop Industries stock. The stock was acquired at an average cost of $1.21 per share, for a total transaction of $25,706.45.

Loop Industries Trading Down 2.3 %

Shares of NASDAQ LOOP opened at $1.25 on Friday. The company has a quick ratio of 0.11, a current ratio of 0.12 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average of $1.21 and a 200 day moving average of $1.40. Loop Industries, Inc. has a 12-month low of $0.96 and a 12-month high of $3.45.

Loop Industries (NASDAQ:LOOP) last posted its quarterly earnings results on Tuesday, January 14th. The financial services provider reported ($0.07) EPS for the quarter, beating the consensus estimate 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%. On average, sell-side analysts expect that Loop Industries, Inc. will post -0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Millennium Management LLC acquired a new stake in Loop Industries during the fourth quarter worth about $41,000. 4WEALTH Advisors Inc. purchased a new stake in shares of Loop Industries during the 4th quarter valued at approximately $60,000. CacheTech Inc. acquired a new position in Loop Industries in the fourth quarter valued at approximately $30,000. Virtu Financial LLC purchased a new position in Loop Industries in the fourth quarter worth approximately $33,000. Finally, Balboa Wealth Partners grew its position in Loop Industries by 50.5% in the fourth quarter. Balboa Wealth Partners now owns 76,124 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 25,549 shares during the period. Hedge funds and other institutional investors own 4.89% of the company’s stock.

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.