Loop Industries, Inc. (NASDAQ:LOOP) Short Interest Update

Loop Industries, Inc. (NASDAQ:LOOP) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 844,232 shares, a growth of 76.4% from the August 15th total of 478,717 shares. Approximately 3.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 8,445,866 shares, the short-interest ratio is currently 0.1 days.

Insider Transactions at Loop Industries

In other Loop Industries news, Director Jeffrey Richart Geygan bought 62,895 shares of Loop Industries stock in a transaction that occurred on Thursday, July 30th. The stock was acquired at an average cost of $0.75 per share, for a total transaction of $47,171.25. Following the completion of the transaction, the director directly owned 3,301,474 shares in the company, valued at $2,476,105.50. This represents a 1.94% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders acquired a total of 123,495 shares of company stock worth $89,322 over the last three months. 49.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Loop Industries

Several institutional investors have recently modified their holdings of LOOP. Susquehanna International Group LLP bought a new stake in Loop Industries in the 2nd quarter worth approximately $68,000. CacheTech Inc. grew its position in Loop Industries by 38.8% during the first quarter. CacheTech Inc. now owns 36,870 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 10,310 shares during the last quarter. Fifth Third Bancorp purchased a new position in shares of Loop Industries during the first quarter worth approximately $215,000. Finally, 4WEALTH Advisors Inc. bought a new stake in shares of Loop Industries in the 1st quarter worth approximately $38,000. 4.89% of the stock is currently owned by institutional investors.

Loop Industries Trading Up 2.4%

Shares of NASDAQ:LOOP traded up $0.01 during trading on Wednesday, reaching $0.48. The company had a trading volume of 123,336 shares, compared to its average volume of 613,442. The company has a fifty day moving average of $0.66 and a two-hundred day moving average of $1.04. The stock has a market capitalization of $23.44 million, a P/E ratio of -1.86 and a beta of 1.46. Loop Industries has a 12 month low of $0.41 and a 12 month high of $1.99.

Loop Industries (NASDAQ:LOOP) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The firm had revenue of $0.18 million for the quarter, compared to the consensus estimate of $0.54 million. As a group, equities research analysts predict that Loop Industries will post -0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

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