Loop Industries (NASDAQ:LOOP) Director Buys $22,484.00 in Stock

Loop Industries, Inc. (NASDAQ:LOOP) Director Jeffrey Richart Geygan bought 30,800 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was bought at an average cost of $0.73 per share, with a total value of $22,484.00. Following the acquisition, the director directly 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 document filed with the Securities & Exchange Commission, 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 shares were bought at an average cost of $0.64 per share, for a total transaction of $697.60.
• On Tuesday, August 18th, Jeffrey Richart Geygan purchased 22,100 shares of Loop Industries stock. The shares were bought at an average cost of $0.64 per share, for a total transaction of $14,144.00.
• On Thursday, July 30th, Jeffrey Richart Geygan acquired 62,895 shares of Loop Industries stock. The shares were bought at an average price of $0.75 per share, with a total value of $47,171.25.
• On Wednesday, July 29th, Jeffrey Richart Geygan acquired 6,610 shares of Loop Industries stock. The stock was bought at an average cost of $0.73 per share, with a total value of $4,825.30.

Loop Industries Price Performance

Shares of NASDAQ:LOOP opened at $0.62 on Friday. Loop Industries, Inc. has a one year low of $0.56 and a one year high of $2.11. The company has a market cap of $29.95 million, a price-to-earnings ratio of -2.38 and a beta of 1.48. The firm has a 50 day simple moving average of $0.78 and a 200 day simple moving average of $1.13.

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

Analysts Set New Price Targets

Separately, Zacks Research cut 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, According to MarketBeat.com, the company has an average rating of “Sell”.

Institutional Investors Weigh In On Loop Industries

Institutional investors have recently added to or reduced their stakes in the business. Susquehanna International Group LLP bought a new position in shares of Loop Industries during the second quarter valued at $68,000. CacheTech Inc. grew its stake in shares of Loop Industries by 38.8% in the first quarter. CacheTech Inc. now owns 36,870 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 10,310 shares during the last quarter. Fifth Third Bancorp acquired a new stake in Loop Industries in the first quarter valued at $215,000. 4WEALTH Advisors Inc. acquired a new stake in Loop Industries in the first quarter valued at $38,000. Finally, XTX Topco Ltd bought a new position in Loop Industries during the 4th quarter worth $32,000. 4.89% of the stock is owned by institutional investors.

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.