Insider Selling: Loop Industries, Inc. (NASDAQ:LOOP) CEO Sells 61,278 Shares of Stock

Loop Industries, Inc. (NASDAQ:LOOP) CEO Daniel Solomita sold 61,278 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $1.56, for a total transaction of $95,593.68. Following the transaction, the chief executive officer now directly owns 548,722 shares of the company’s stock, valued at approximately $856,006.32. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Loop Industries Stock Performance

Shares of NASDAQ LOOP opened at $1.19 on Wednesday. Loop Industries, Inc. has a 12-month low of $1.17 and a 12-month high of $4.15. The company has a market cap of $56.67 million, a PE ratio of -2.97 and a beta of 1.54. The stock has a 50 day simple moving average of $1.38 and a 200-day simple moving average of $1.65. The company has a current ratio of 0.48, a quick ratio of 0.47 and a debt-to-equity ratio of 0.93.

Loop Industries (NASDAQ:LOOP) last announced its earnings results on Tuesday, October 15th. The financial services provider reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. Loop Industries had a negative return on equity of 164.29% and a negative net margin of 19,364.00%. The firm had revenue of $0.02 million for the quarter. On average, equities research analysts forecast that Loop Industries, Inc. will post -0.31 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Cormark upgraded shares of Loop Industries to a “moderate buy” rating in a research report on Monday, September 30th.

Institutional Investors Weigh In On Loop Industries

A hedge fund recently raised its stake in Loop Industries stock. Balboa Wealth Partners grew its stake in shares of Loop Industries, Inc. (NASDAQ:LOOP) by 24.3% during the third quarter, according to its most recent filing with the Securities and 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 about 0.11% of Loop Industries worth $93,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds 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.