Jeffrey Richart Geygan Buys 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 dated Thursday, July 30th. The shares were acquired at an average price of $0.75 per share, for a total transaction of $47,171.25. Following the purchase, the director owned 3,301,474 shares in the company, valued at $2,476,105.50. The trade was a 1.94% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, July 29th, Jeffrey Richart Geygan purchased 6,610 shares of Loop Industries stock. The shares were acquired at an average price of $0.73 per share, for a total transaction of $4,825.30.

Loop Industries Trading Down 0.1%

LOOP stock opened at $0.73 on Friday. The firm has a market cap of $35.30 million, a PE ratio of -2.81 and a beta of 1.45. Loop Industries, Inc. has a 1 year low of $0.71 and a 1 year high of $2.11. The company has a fifty day simple moving average of $0.94 and a 200 day simple moving average of $1.18.

Loop Industries (NASDAQ:LOOP) last posted its earnings results on Tuesday, July 14th. The financial services provider reported ($0.07) 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 analysts’ expectations of $0.54 million. As a group, analysts forecast that Loop Industries, Inc. will post -0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Loop Industries

Several hedge funds and other institutional investors have recently made changes to their positions in LOOP. CacheTech Inc. lifted its position in shares of 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 purchasing an additional 10,310 shares during the last quarter. State Street Corp grew its holdings in Loop Industries by 16.3% in the 4th quarter. State Street Corp now owns 88,340 shares of the financial services provider’s stock valued at $88,000 after buying an additional 12,400 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Loop Industries by 40.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 74,289 shares of the financial services provider’s stock valued at $74,000 after buying an additional 21,502 shares during the last quarter. Jane Street Group LLC bought a new position in Loop Industries in the 2nd quarter worth approximately $39,000. Finally, 4WEALTH Advisors Inc. bought a new position in Loop Industries in the 1st quarter worth approximately $38,000. 4.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

About Loop Industries

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.