Jeffrey Richart Geygan Acquires 30,800 Shares of Loop Industries (NASDAQ:LOOP) Stock

Loop Industries, Inc. (NASDAQ:LOOP) Director Jeffrey Richart Geygan bought 30,800 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were purchased at an average cost of $0.73 per share, with a total value of $22,484.00. Following the completion of the transaction, the director owned 3,331,904 shares in the company, valued at $2,432,289.92. This represents a 0.93% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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 stock was purchased at an average price of $0.64 per share, with a total value of $697.60.
• On Tuesday, August 18th, Jeffrey Richart Geygan purchased 22,100 shares of Loop Industries stock. The shares were purchased at an average cost of $0.64 per share, for a total transaction of $14,144.00.
• On Thursday, July 30th, Jeffrey Richart Geygan purchased 62,895 shares of Loop Industries stock. The shares were purchased at an average price of $0.75 per share, for a total transaction of $47,171.25.
• On Wednesday, July 29th, Jeffrey Richart Geygan purchased 6,610 shares of Loop Industries stock. The shares were purchased at an average price of $0.73 per share, for a total transaction of $4,825.30.

Loop Industries Price Performance

LOOP stock opened at $0.62 on Friday. Loop Industries, Inc. has a 1-year low of $0.56 and a 1-year high of $2.11. The business has a 50-day moving average price of $0.78 and a 200 day moving average price of $1.13. The company has a market capitalization of $29.95 million, a P/E ratio of -2.38 and a beta of 1.48.

Loop Industries (NASDAQ:LOOP) last issued its earnings results on Tuesday, July 14th. The financial services provider reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The business had revenue of $0.18 million for the quarter, compared to the consensus estimate 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 Investors Weigh In On Loop Industries

Several institutional investors have recently bought and sold shares of the company. Jane Street Group LLC purchased a new position in Loop Industries in the second quarter worth $39,000. 4WEALTH Advisors Inc. purchased a new stake in shares of Loop Industries during the 1st quarter valued at $38,000. XTX Topco Ltd acquired a new stake in shares of Loop Industries in the 4th quarter worth $32,000. Susquehanna International Group LLP acquired a new stake in shares of Loop Industries in the 3rd quarter worth $49,000. Finally, CacheTech Inc. grew its stake in Loop Industries by 38.8% during 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. 4.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Zacks Research downgraded shares of 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, the company 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.