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

Loop Industries, Inc. (NASDAQ:LOOP) Director Jeffrey Richart Geygan bought 22,100 shares of the business’s stock in a transaction on 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 completion of the purchase, the director directly owned 3,354,004 shares in the company, valued at approximately $2,146,562.56. The trade was a 0.66% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 shares were bought 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 price of $0.73 per share, with a total value 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 bought 6,610 shares of Loop Industries stock. The shares were purchased at an average cost of $0.73 per share, for a total transaction of $4,825.30.

Loop Industries Price Performance

Shares of NASDAQ LOOP opened at $0.62 on Thursday. The company has a market capitalization of $30.01 million, a P/E ratio of -2.39 and a beta of 1.48. The company has a 50 day simple moving average of $0.79 and a 200-day simple moving average of $1.14. Loop Industries, Inc. has a 1 year low of $0.62 and a 1 year high of $2.11.

Loop Industries (NASDAQ:LOOP) last released its quarterly earnings data 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 company had revenue of $0.18 million during the quarter, compared to analysts’ expectations of $0.54 million. As a group, research analysts expect that Loop Industries, Inc. will post -0.22 EPS for the current year.

Institutional Trading of Loop Industries

Institutional investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP acquired a new position in Loop Industries during the second quarter worth $68,000. CacheTech Inc. grew its stake in shares of Loop Industries by 38.8% in the first quarter. CacheTech Inc. now owns 36,870 shares of the financial services provider’s stock valued at $53,000 after buying an additional 10,310 shares in the last quarter. Fifth Third Bancorp purchased a new stake in shares of Loop Industries in the 1st quarter valued at $215,000. 4WEALTH Advisors Inc. purchased a new stake in shares of Loop Industries in the 1st quarter valued at $38,000. Finally, XTX Topco Ltd acquired a new position in Loop Industries during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 4.89% of the company’s stock.

Analyst Upgrades and Downgrades

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