If it is an antenna, it is an omni-directional antenna.
Directional antenna require a center receiver if round and should be dished to focus the signal.
I have also seen them made out of Pringle cans, but are more commonly the Yagi type.
It is most certainly bi-directional, exhibits lobes like a dipole. The diameter dictates that is it intended to receive HF and not anything above 30 MHZ. A quick Google search for Mag Loop Antenna could have saved you some embarrassment. Obviously what you know about Radio is relegated to WIFI related devices and not Shortwave.