Loop Industries (NASDAQ:LOOP) Director Jeffrey Richart Geygan Buys 30,800 Shares

Loop Industries, Inc. (NASDAQ:LOOP) Director Jeffrey Richart Geygan bought 30,800 shares of the stock in a transaction on Friday, July 31st. The shares were bought at an average price of $0.73 per share, for a total transaction of $22,484.00. Following the purchase, the director directly owned 3,331,904 shares in the company, valued at approximately $2,432,289.92. This trade represents a 0.93% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Jeffrey Richart Geygan also recently made the following trade(s):

• On Wednesday, August 19th, Jeffrey Richart Geygan bought 1,090 shares of Loop Industries stock. The shares were acquired at an average price of $0.64 per share, with a total value of $697.60.
• On Tuesday, August 18th, Jeffrey Richart Geygan acquired 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 stock was acquired at an average cost 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 shares were acquired at an average cost of $0.73 per share, for a total transaction of $4,825.30.

Loop Industries Stock Up 4.0%

LOOP stock opened at $0.65 on Friday. The firm has a market cap of $31.21 million, a P/E ratio of -2.48 and a beta of 1.48. The company’s 50-day simple moving average is $0.78 and its 200-day simple moving average is $1.14. Loop Industries, Inc. has a 52-week low of $0.62 and a 52-week high of $2.11.

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 the consensus estimate of ($0.05) by ($0.02). The firm had revenue of $0.18 million during the quarter, compared to analyst estimates of $0.54 million. On average, analysts anticipate that Loop Industries, Inc. will post -0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. XTX Topco Ltd acquired a new position in Loop Industries during the fourth quarter worth about $32,000. 4WEALTH Advisors Inc. acquired a new position in shares of Loop Industries during the 1st quarter worth approximately $38,000. Jane Street Group LLC purchased a new stake in Loop Industries in the 2nd quarter valued at approximately $39,000. Susquehanna International Group LLP acquired a new stake in Loop Industries during the 3rd quarter valued at $49,000. Finally, CacheTech Inc. increased its position in Loop Industries by 38.8% during the first quarter. CacheTech Inc. now owns 36,870 shares of the financial services provider’s stock worth $53,000 after buying an additional 10,310 shares in the last quarter. Hedge funds and other institutional investors own 4.89% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Zacks Research cut Loop Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

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.