Spencer Hart Purchases 55,000 Shares of Loop Industries, Inc. (NASDAQ:LOOP) Stock

Loop Industries, Inc. (NASDAQ:LOOP) Director Spencer Hart purchased 55,000 shares of the stock in a transaction on Thursday, February 20th. The shares were acquired at an average price of $1.29 per share, for a total transaction of $70,950.00. Following the transaction, the director now directly owns 180,216 shares of the company’s stock, valued at $232,478.64. This represents a 43.92 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Spencer Hart also recently made the following trade(s):

• On Tuesday, February 18th, Spencer Hart purchased 21,245 shares of Loop Industries stock. The shares were acquired at an average price of $1.21 per share, for a total transaction of $25,706.45.

Loop Industries Stock Performance

Shares of LOOP stock opened at $1.36 on Friday. The company has a market capitalization of $64.76 million, a P/E ratio of -2.43 and a beta of 1.57. The business’s 50 day moving average is $1.20 and its two-hundred day moving average is $1.39. Loop Industries, Inc. has a 12-month low of $0.96 and a 12-month high of $3.45. The company has a current ratio of 0.12, a quick ratio of 0.11 and a debt-to-equity ratio of 0.93.

Loop Industries (NASDAQ:LOOP) last released its earnings results on Tuesday, January 14th. The financial services provider reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.02. Loop Industries had a negative return on equity of 350.30% and a negative net margin of 21,561.11%. Analysts expect that Loop Industries, Inc. will post -0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Loop Industries

Several hedge funds and other institutional investors have recently made changes to their positions in LOOP. Balboa Wealth Partners lifted its position in shares of Loop Industries by 24.3% in the third quarter. Balboa Wealth Partners now owns 50,575 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 9,880 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Loop Industries by 4.6% in the third quarter. Geode Capital Management LLC now owns 250,962 shares of the financial services provider’s stock valued at $462,000 after acquiring an additional 10,933 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Loop Industries in the fourth quarter valued at approximately $33,000. CacheTech Inc. purchased a new position in shares of Loop Industries in the fourth quarter valued at approximately $30,000. Finally, 4WEALTH Advisors Inc. purchased a new position in shares of Loop Industries in the fourth quarter valued at approximately $60,000. Hedge funds and other institutional investors own 4.89% of the company’s stock.

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.