Loop Industries, Inc. (NASDAQ:LOOP) CEO Daniel Solomita Sells 61,278 Shares

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

Loop Industries Trading Down 9.7 %

LOOP stock opened at $1.21 on Tuesday. The company has a market capitalization of $57.62 million, a PE ratio of -3.02 and a beta of 1.54. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.47 and a current ratio of 0.48. Loop Industries, Inc. has a one year low of $1.17 and a one year high of $4.15. The company’s 50 day moving average price is $1.40 and its two-hundred day moving average price is $1.66.

Loop Industries (NASDAQ:LOOP) last issued its earnings results on Tuesday, October 15th. The financial services provider reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. Loop Industries had a negative net margin of 19,364.00% and a negative return on equity of 164.29%. The company had revenue of $0.02 million for the quarter. As a group, analysts predict that Loop Industries, Inc. will post -0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Loop Industries

An institutional investor recently raised its position in Loop Industries stock. Balboa Wealth Partners boosted its position in Loop Industries, Inc. (NASDAQ:LOOP) by 24.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,575 shares of the financial services provider’s stock after acquiring an additional 9,880 shares during the period. Balboa Wealth Partners owned 0.11% of Loop Industries worth $93,000 at the end of the most recent reporting period. 4.89% of the stock is owned by institutional investors.

Loop Industries Company Profile

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.