Jeffrey Richart Geygan Purchases 30,800 Shares of Loop Industries (NASDAQ:LOOP) Stock

Loop Industries, Inc. (NASDAQ:LOOP) Director Jeffrey Richart Geygan bought 30,800 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was bought at an average cost of $0.73 per share, for a total transaction of $22,484.00. Following the completion of the purchase, the director owned 3,331,904 shares of the company’s stock, valued at approximately $2,432,289.92. The trade was a 0.93% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed 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 bought 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 purchased at an average price of $0.64 per share, for a total transaction of $14,144.00.
• On Thursday, July 30th, Jeffrey Richart Geygan purchased 62,895 shares of Loop Industries stock. The stock was purchased at an average price 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 shares were purchased at an average price of $0.73 per share, with a total value of $4,825.30.

Loop Industries Stock Performance

Shares of Loop Industries stock opened at $0.62 on Thursday. The stock has a market capitalization of $30.01 million, a PE ratio of -2.39 and a beta of 1.48. Loop Industries, Inc. has a 52-week low of $0.62 and a 52-week high of $2.11. The company has a 50-day simple moving average of $0.79 and a two-hundred day simple moving average of $1.14.

Loop Industries (NASDAQ:LOOP) last posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The firm had revenue of $0.18 million for the quarter, compared to analysts’ expectations of $0.54 million. As a group, equities research analysts forecast that Loop Industries, Inc. will post -0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Loop Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC bought a new stake in Loop Industries in the 2nd quarter worth approximately $346,000. Osaic Holdings Inc. lifted its holdings in shares of 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 valued at $239,000 after buying an additional 167,041 shares during the period. Fifth Third Bancorp purchased a new position in shares of Loop Industries in the 1st quarter worth $215,000. State Street Corp boosted its stake in shares of Loop Industries by 16.3% in the 4th quarter. State Street Corp now owns 88,340 shares of the financial services provider’s stock worth $88,000 after buying an additional 12,400 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Loop Industries by 40.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 74,289 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 21,502 shares during the period. Hedge funds and other institutional investors own 4.89% of the company’s stock.

Wall Street Analyst Weigh In

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