Balboa Wealth Partners Raises Holdings in Loop Industries, Inc. (NASDAQ:LOOP)

Balboa Wealth Partners increased its holdings in Loop Industries, Inc. (NASDAQ:LOOP) by 50.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 76,124 shares of the financial services provider’s stock after acquiring an additional 25,549 shares during the period. Balboa Wealth Partners owned approximately 0.16% of Loop Industries worth $91,000 at the end of the most recent quarter.

Separately, Geode Capital Management LLC lifted its stake in Loop Industries by 4.6% during the third quarter. Geode Capital Management LLC now owns 250,962 shares of the financial services provider’s stock worth $462,000 after purchasing an additional 10,933 shares in the last quarter. Hedge funds and other institutional investors own 4.89% of the company’s stock.

Loop Industries Stock Down 4.9 %

NASDAQ:LOOP opened at $1.17 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 stock’s fifty day moving average is $1.19 and its two-hundred day moving average is $1.37. Loop Industries, Inc. has a 52 week low of $0.96 and a 52 week high of $3.05. The stock has a market capitalization of $55.72 million, a price-to-earnings ratio of -2.09 and a beta of 1.56.

Loop Industries (NASDAQ:LOOP) last released its quarterly earnings results on Tuesday, January 14th. The financial services provider reported ($0.07) EPS for the quarter, topping 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%. Research analysts anticipate that Loop Industries, Inc. will post -0.47 EPS for the current year.

Insiders Place Their Bets

In related news, Director Spencer Hart acquired 55,000 shares of Loop Industries stock in a transaction dated 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 completion of the purchase, the director now owns 180,216 shares in the company, valued at approximately $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 can be accessed through this link. Also, CEO Daniel Solomita sold 61,278 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $1.56, for a total value of $95,593.68. Following the completion of the sale, the chief executive officer now owns 548,722 shares in the company, valued at approximately $856,006.32. The trade was a 10.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought 156,182 shares of company stock worth $188,090 over the last ninety days. Corporate insiders own 49.80% of the company’s stock.

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.