Jay Howard Stubina Acquires 50,000 Shares of Loop Industries, Inc. (NASDAQ:LOOP) Stock

Loop Industries, Inc. (NASDAQ:LOOP) Director Jay Howard Stubina bought 50,000 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was purchased at an average cost of $1.20 per share, for a total transaction of $60,000.00. Following the completion of the acquisition, the director now owns 135,000 shares in the company, valued at approximately $162,000. This trade represents a 58.82 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Loop Industries Trading Up 5.9 %

LOOP opened at $1.25 on Wednesday. Loop Industries, Inc. has a 1-year low of $0.96 and a 1-year high of $3.65. The company has a current ratio of 0.12, a quick ratio of 0.11 and a debt-to-equity ratio of 0.93. The company has a market cap of $59.53 million, a P/E ratio of -2.23 and a beta of 1.57. The company’s 50 day moving average is $1.28 and its 200-day moving average is $1.47.

Loop Industries (NASDAQ:LOOP) last issued its quarterly earnings results on Tuesday, January 14th. The financial services provider reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. Loop Industries had a negative return on equity of 350.30% and a negative net margin of 21,561.11%. Equities research analysts predict that Loop Industries, Inc. will post -0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Loop Industries

An institutional investor recently raised its position in Loop Industries stock. Balboa Wealth Partners grew its position in shares of Loop Industries, Inc. (NASDAQ:LOOP) by 24.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,575 shares of the financial services provider’s stock after buying an additional 9,880 shares during the quarter. Balboa Wealth Partners owned 0.11% of Loop Industries worth $93,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 4.89% of the company’s stock.

About Loop Industries

Loop Industries, Inc, a technology company, focuses on depolymerizing waste polyethylene terephthalate PET plastics and polyester fibers, including plastic bottles, packaging, carpets and textiles of any color, transparency and even ocean plastics that have been degraded by the sun and salt, to its base building blocks.