Insider Buying: Loop Industries (NASDAQ:LOOP) Director Buys 62,895 Shares of Stock

Loop Industries, Inc. (NASDAQ:LOOP) Director Jeffrey Richart Geygan purchased 62,895 shares of the stock in a transaction on Thursday, July 30th. The shares were acquired at an average cost of $0.75 per share, with a total value of $47,171.25. Following the transaction, the director directly owned 3,301,474 shares in the company, valued at $2,476,105.50. The trade was a 1.94% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

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 acquired at an average price of $0.73 per share, for a total transaction of $4,825.30.

Loop Industries Price Performance

NASDAQ:LOOP traded down $0.00 during trading hours on Friday, hitting $0.73. The company had a trading volume of 69,416 shares, compared to its average volume of 73,726. The stock has a 50-day moving average price of $0.96 and a 200 day moving average price of $1.19. The company has a market capitalization of $35.30 million, a PE ratio of -2.81 and a beta of 1.45. Loop Industries, Inc. has a 52 week low of $0.71 and a 52 week high of $2.11.

Loop Industries (NASDAQ:LOOP) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The company had revenue of $0.18 million for the quarter, compared to the consensus estimate of $0.54 million. Analysts anticipate that Loop Industries, Inc. will post -0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Loop Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Corient Private Wealth LLC bought a new position in shares of Loop Industries during the second quarter valued at approximately $346,000. Osaic Holdings Inc. boosted its position in shares of Loop Industries by 17,220.7% in the 2nd quarter. Osaic Holdings Inc. now owns 168,011 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 167,041 shares in the last quarter. State Street Corp boosted its position 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 purchasing an additional 12,400 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Loop Industries by 40.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 74,289 shares of the financial services provider’s stock worth $74,000 after buying an additional 21,502 shares during the last quarter. Finally, Citadel Advisors LLC grew its stake in shares of Loop Industries by 564.3% in the 3rd quarter. Citadel Advisors LLC now owns 44,536 shares of the financial services provider’s stock worth $66,000 after buying an additional 54,129 shares during the last quarter. Hedge funds and other institutional investors own 4.89% of the company’s stock.

Analyst Ratings Changes

Separately, Zacks Research downgraded Loop Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Loop Industries currently has a consensus rating of “Sell”.

About Loop Industries

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.