Insider Selling: Loop Industries, Inc. (NASDAQ:LOOP) CEO Sells 61,278 Shares of Stock

Loop Industries, Inc. (NASDAQ:LOOP) CEO Daniel Solomita sold 61,278 shares of Loop Industries stock in a transaction on Monday, December 16th. The stock was sold at an average price of $1.56, for a total transaction of $95,593.68. Following the sale, the chief executive officer now directly owns 548,722 shares of the company’s stock, valued at approximately $856,006.32. This trade represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Loop Industries Stock Performance

NASDAQ LOOP traded down $0.13 during trading hours on Monday, hitting $1.21. The company had a trading volume of 248,208 shares, compared to its average volume of 390,921. The business has a 50 day moving average of $1.41 and a 200-day moving average of $1.67. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.47 and a current ratio of 0.48. Loop Industries, Inc. has a 1-year low of $1.17 and a 1-year high of $4.15. The company has a market cap of $57.62 million, a PE ratio of -3.02 and a beta of 1.54.

Loop Industries (NASDAQ:LOOP) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.02. The company had revenue of $0.02 million for the quarter. Loop Industries had a negative return on equity of 164.29% and a negative net margin of 19,364.00%. As a group, equities research analysts expect that Loop Industries, Inc. will post -0.31 EPS for the current year.

Institutional Trading of Loop Industries

A hedge fund recently raised its stake in Loop Industries stock. Balboa Wealth Partners grew its holdings in Loop Industries, Inc. (NASDAQ:LOOP) by 24.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 50,575 shares of the financial services provider’s stock after buying an additional 9,880 shares during the period. Balboa Wealth Partners owned 0.11% of Loop Industries worth $93,000 at the end of the most recent reporting period. 4.89% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Cormark upgraded shares of Loop Industries to a “moderate buy” rating in a research note on Monday, September 30th.

Loop Industries Company Profile

Loop Industries, Inc, a technology company, focuses on depolymerizing waste polyethylene terephthalate PET plastics and polyester fibers, including plastic bottles, packaging, carpets and textiles of any color, transparency and even ocean plastics that have been degraded by the sun and salt, to its base building blocks.