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

Loop Industries, Inc. (NASDAQ:LOOP) CEO Daniel Solomita sold 61,278 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $1.56, for a total value of $95,593.68. Following the transaction, the chief executive officer now owns 548,722 shares of the company’s stock, valued at approximately $856,006.32. This trade represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Loop Industries Stock Down 1.7 %

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

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

Institutional Trading of Loop Industries

An institutional investor recently raised its position in Loop Industries stock. Geode Capital Management LLC increased its holdings in shares of Loop Industries, Inc. (NASDAQ:LOOP) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 250,962 shares of the financial services provider’s stock after acquiring an additional 10,933 shares during the quarter. Geode Capital Management LLC owned approximately 0.53% of Loop Industries worth $462,000 at the end of the most recent quarter. 4.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.