Jeffrey Richart Geygan Purchases 22,100 Shares of Loop Industries (NASDAQ:LOOP) Stock

Loop Industries, Inc. (NASDAQ:LOOP) Director Jeffrey Richart Geygan purchased 22,100 shares of the stock in a transaction dated Tuesday, August 18th. The stock was bought at an average cost of $0.64 per share, with a total value of $14,144.00. Following the transaction, the director owned 3,354,004 shares in the company, valued at $2,146,562.56. The trade was a 0.66% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, August 19th, Jeffrey Richart Geygan purchased 1,090 shares of Loop Industries stock. The stock was purchased at an average price of $0.64 per share, for a total transaction of $697.60.
• On Friday, July 31st, Jeffrey Richart Geygan acquired 30,800 shares of Loop Industries stock. The shares were purchased at an average cost of $0.73 per share, for a total transaction of $22,484.00.
• On Thursday, July 30th, Jeffrey Richart Geygan acquired 62,895 shares of Loop Industries stock. The shares were purchased at an average price 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 purchased at an average price of $0.73 per share, with a total value of $4,825.30.

Loop Industries Stock Performance

Shares of Loop Industries stock opened at $0.62 on Friday. The company has a 50-day simple moving average of $0.78 and a two-hundred day simple moving average of $1.13. The stock has a market capitalization of $29.95 million, a PE ratio of -2.38 and a beta of 1.48. Loop Industries, Inc. has a 52-week low of $0.56 and a 52-week high of $2.11.

Loop Industries (NASDAQ:LOOP) last posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The firm had revenue of $0.18 million for the quarter, compared to analysts’ expectations of $0.54 million. As a group, equities research analysts forecast that Loop Industries, Inc. will post -0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Loop Industries

A number of hedge funds have recently bought and sold shares of LOOP. CacheTech Inc. raised its position in Loop Industries by 38.8% in the 1st 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 during the last quarter. State Street Corp boosted its holdings in shares of Loop Industries by 16.3% during the 4th quarter. State Street Corp now owns 88,340 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 12,400 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Loop Industries by 40.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 74,289 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 21,502 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Loop Industries in the second quarter worth approximately $39,000. Finally, 4WEALTH Advisors Inc. bought a new stake in shares of Loop Industries in the first quarter worth approximately $38,000. Hedge funds and other institutional investors own 4.89% of the company’s stock.

Analyst Ratings Changes

Separately, Zacks Research downgraded Loop Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Loop Industries presently has an average 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.