Loop Industries (NASDAQ:LOOP) Director Acquires $14,144.00 in Stock

Loop Industries, Inc. (NASDAQ:LOOP) Director Jeffrey Richart Geygan acquired 22,100 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was acquired at an average price of $0.64 per share, with a total value of $14,144.00. Following the acquisition, the director directly owned 3,354,004 shares of the company’s stock, valued at approximately $2,146,562.56. This represents a 0.66% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available 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 acquired at an average price of $0.64 per share, with a total value of $697.60.
• On Friday, July 31st, Jeffrey Richart Geygan acquired 30,800 shares of Loop Industries stock. The shares were bought at an average cost of $0.73 per share, for a total transaction of $22,484.00.
• On Thursday, July 30th, Jeffrey Richart Geygan bought 62,895 shares of Loop Industries stock. The shares were bought at an average cost of $0.75 per share, with a total value of $47,171.25.
• On Wednesday, July 29th, Jeffrey Richart Geygan purchased 6,610 shares of Loop Industries stock. The stock was bought at an average cost of $0.73 per share, for a total transaction of $4,825.30.

Loop Industries Stock Performance

LOOP stock opened at $0.62 on Thursday. Loop Industries, Inc. has a fifty-two week low of $0.62 and a fifty-two week high of $2.11. The company’s 50 day moving average price is $0.79 and its 200 day moving average price is $1.14. The firm has a market capitalization of $30.01 million, a price-to-earnings ratio of -2.39 and a beta of 1.48.

Loop Industries (NASDAQ:LOOP) last released its quarterly earnings data 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 firm had revenue of $0.18 million for the quarter, compared to analyst estimates of $0.54 million. Equities analysts forecast that Loop Industries, Inc. will post -0.22 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Trading of Loop Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. CacheTech Inc. boosted its stake in Loop Industries by 38.8% in the 1st quarter. CacheTech Inc. now owns 36,870 shares of the financial services provider’s stock worth $53,000 after buying an additional 10,310 shares during the last quarter. State Street Corp grew its stake in shares of Loop Industries by 16.3% during the 4th quarter. State Street Corp now owns 88,340 shares of the financial services provider’s stock valued at $88,000 after buying an additional 12,400 shares during the period. Goldman Sachs Group Inc. raised its position 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 period. Jane Street Group LLC acquired a new stake in Loop Industries during the second quarter worth about $39,000. Finally, 4WEALTH Advisors Inc. purchased a new stake in shares of Loop Industries during the 1st quarter worth about $38,000. 4.89% of the stock is owned by hedge funds and other institutional investors.

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.