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

Loop Industries, Inc. (NASDAQ:LOOP) Director Spencer Hart bought 55,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was acquired at an average price of $1.29 per share, for a total transaction of $70,950.00. Following the transaction, the director now owns 180,216 shares of the company’s stock, valued at approximately $232,478.64. The trade was a 43.92 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

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

Loop Industries Trading Up 9.7 %

Shares of Loop Industries stock opened at $1.36 on Friday. The firm’s 50 day moving average is $1.20 and its 200 day moving average is $1.39. The firm has a market capitalization of $64.76 million, a PE ratio of -2.43 and a beta of 1.57. Loop Industries, Inc. has a 1 year low of $0.96 and a 1 year 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 posted its earnings results on Tuesday, January 14th. The financial services provider reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. Loop Industries had a negative net margin of 21,561.11% and a negative return on equity of 350.30%. Equities research analysts forecast that Loop Industries, Inc. will post -0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Loop Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. CacheTech Inc. bought a new position in Loop Industries in the fourth quarter valued at about $30,000. Virtu Financial LLC acquired a new position in shares of Loop Industries in the fourth quarter valued at approximately $33,000. Millennium Management LLC acquired a new position in shares of Loop Industries in the fourth quarter valued at approximately $41,000. 4WEALTH Advisors Inc. bought a new position in Loop Industries in the 4th quarter valued at approximately $60,000. Finally, Balboa Wealth Partners boosted its position in Loop Industries by 50.5% during the 4th quarter. Balboa Wealth Partners now owns 76,124 shares of the financial services provider’s stock worth $91,000 after buying an additional 25,549 shares during the period. Institutional investors own 4.89% of the company’s stock.

About Loop Industries

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.