Jeffrey Richart Geygan Acquires 62,895 Shares of Loop Industries (NASDAQ:LOOP) Stock

Loop Industries, Inc. (NASDAQ:LOOP) Director Jeffrey Richart Geygan purchased 62,895 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were purchased at an average cost of $0.75 per share, with a total value of $47,171.25. Following the purchase, the director owned 3,301,474 shares of the company’s stock, valued at approximately $2,476,105.50. The trade was a 1.94% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• 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, for a total transaction of $4,825.30.

Loop Industries Stock Down 0.1%

Shares of Loop Industries stock traded down $0.00 during trading on Friday, hitting $0.73. 69,416 shares of the stock traded hands, compared to its average volume of 73,726. The stock has a market cap of $35.30 million, a price-to-earnings ratio of -2.81 and a beta of 1.45. Loop Industries, Inc. has a 52 week low of $0.71 and a 52 week high of $2.11. The firm’s fifty day moving average is $0.96 and its 200-day moving average is $1.19.

Loop Industries (NASDAQ:LOOP) last released its earnings results on Tuesday, July 14th. The financial services provider reported ($0.07) earnings per share 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 the consensus estimate of $0.54 million. On average, analysts forecast that Loop Industries, Inc. will post -0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Loop Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. CacheTech Inc. boosted its position in Loop Industries by 38.8% during the 1st 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 during the period. State Street Corp increased its position in shares of Loop Industries by 16.3% in the fourth 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 period. Goldman Sachs Group Inc. increased its position in shares of Loop Industries by 40.7% in the fourth 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 period. Jane Street Group LLC bought a new position in shares of Loop Industries during the second quarter valued at about $39,000. Finally, 4WEALTH Advisors Inc. bought a new position in shares of Loop Industries during the first quarter valued at about $38,000. 4.89% of the stock is currently owned by institutional investors.

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.