Insider Buying: Loop Industries, Inc. (NASDAQ:LOOP) VP Buys 3,650 Shares of Stock

Loop Industries, Inc. (NASDAQ:LOOP – Get Rating) VP Yves Perron purchased 3,650 shares of Loop Industries stock in a transaction that occurred on Tuesday, May 31st. The shares were purchased at an average cost of $5.48 per share, with a total value of $20,002.00. Following the transaction, the vice president now directly owns 32,541 shares of the company’s stock, valued at $178,324.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Loop Industries stock traded up $0.42 on Thursday, hitting $5.85. 69,642 shares of the company’s stock were exchanged, compared to its average volume of 113,730. The company has a 50-day simple moving average of $6.99 and a 200-day simple moving average of $9.02. Loop Industries, Inc. has a 1 year low of $4.35 and a 1 year high of $18.20. The company has a current ratio of 9.67, a quick ratio of 9.67 and a debt-to-equity ratio of 0.06.

Institutional investors have recently modified their holdings of the company. National Bank of Canada FI purchased a new position in shares of Loop Industries during the 4th quarter worth $54,000. Dorsey Wright & Associates purchased a new position in shares of Loop Industries during the 4th quarter valued at $51,000. Geode Capital Management LLC lifted its stake in shares of Loop Industries by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 219,175 shares of the financial services provider’s stock valued at $2,505,000 after buying an additional 641 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Loop Industries by 37.3% during the 1st quarter. Van ECK Associates Corp now owns 177,253 shares of the financial services provider’s stock valued at $1,577,000 after buying an additional 48,199 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Loop Industries during the 1st quarter valued at $796,000. Institutional investors and hedge funds own 28.52% of the company’s stock.

Several equities research analysts recently weighed in on LOOP shares. Zacks Investment Research raised shares of Loop Industries from a “sell” rating to a “hold” rating in a research report on Friday, February 18th. Raymond James set a $19.50 price target on shares of Loop Industries and gave the company an “outperform” rating in a research report on Friday, March 11th.

Loop Industries Company Profile (Get Rating)

Loop Industries, Inc, a technology company, focuses on depolymerizing waste polyethylene terephthalate (PET) plastics and polyester fibers into base building blocks. It polymerized monomers into virgin-quality PET plastic for use in food-grade plastic packaging, such as plastic bottles for water and carbonated soft drinks, and containers for food and other consumer products; and polyester fibers, including carpets, clothing, and other polyester textiles.

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