Loop Industries, Inc. (NASDAQ:LOOP) Director Laurence G. Sellyn Purchases 29,937 Shares

Loop Industries, Inc. (NASDAQ:LOOP) Director Laurence G. Sellyn acquired 29,937 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were bought at an average cost of $1.05 per share, for a total transaction of $31,433.85. Following the transaction, the director now directly owns 197,833 shares in the company, valued at approximately $207,724.65. This represents a 17.83 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Loop Industries Price Performance

Shares of LOOP opened at $1.16 on Friday. The business’s fifty day moving average is $1.29 and its 200 day moving average is $1.50. Loop Industries, Inc. has a 12-month low of $0.96 and a 12-month high of $3.65. The company has a quick ratio of 0.11, a current ratio of 0.12 and a debt-to-equity ratio of 0.93. The stock has a market cap of $55.24 million, a P/E ratio of -2.07 and a beta of 1.57.

Loop Industries (NASDAQ:LOOP) last released its quarterly earnings data on Tuesday, January 14th. The financial services provider reported ($0.07) earnings per share for the quarter, beating 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%. Sell-side analysts anticipate that Loop Industries, Inc. will post -0.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Loop Industries

A hedge fund recently raised its stake in Loop Industries stock. Balboa Wealth Partners lifted its stake in shares of Loop Industries, Inc. (NASDAQ:LOOP) by 24.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 about 0.11% of Loop Industries worth $93,000 at the end of the most recent quarter. 4.89% of the stock is owned by institutional investors.

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.