Loop Industries (NASDAQ:LOOP) Director Buys $47,171.25 in Stock

Loop Industries, Inc. (NASDAQ:LOOP) Director Jeffrey Richart Geygan acquired 62,895 shares of Loop Industries stock in a transaction on Thursday, July 30th. The shares were bought at an average cost of $0.75 per share, with a total value of $47,171.25. Following the completion of the transaction, the director owned 3,301,474 shares of the company’s stock, valued at approximately $2,476,105.50. This trade represents a 1.94% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, July 29th, Jeffrey Richart Geygan acquired 6,610 shares of Loop Industries stock. The stock was bought at an average price of $0.73 per share, for a total transaction of $4,825.30.

Loop Industries Price Performance

NASDAQ:LOOP opened at $0.73 on Monday. The company has a market cap of $35.30 million, a P/E ratio of -2.81 and a beta of 1.48. The firm’s fifty day moving average price is $0.94 and its two-hundred day moving average price is $1.18. Loop Industries, Inc. has a one year low of $0.71 and a one year high of $2.11.

Loop Industries (NASDAQ:LOOP) last posted its earnings results on Tuesday, July 14th. The financial services provider reported ($0.07) earnings per share (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 the consensus estimate of $0.54 million. As a group, equities research analysts expect that Loop Industries, Inc. will post -0.22 earnings per share for the current year.

Hedge Funds Weigh In On Loop Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CacheTech Inc. boosted its position in shares of Loop Industries by 38.8% during the 1st quarter. CacheTech Inc. now owns 36,870 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 10,310 shares in the last quarter. Fifth Third Bancorp bought a new position in Loop Industries in the first quarter valued at approximately $215,000. 4WEALTH Advisors Inc. acquired a new position in Loop Industries during the first quarter valued at approximately $38,000. XTX Topco Ltd acquired a new position in Loop Industries during the fourth quarter valued at approximately $32,000. Finally, State Street Corp lifted its stake in Loop Industries by 16.3% during the fourth quarter. State Street Corp now owns 88,340 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 12,400 shares during the last quarter. 4.89% of the stock is currently 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 analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently 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.