Cormark Has Positive View of Loop Industries FY2028 Earnings

Loop Industries, Inc. (NASDAQ:LOOP) – Stock analysts at Cormark upped their FY2028 earnings estimates for shares of Loop Industries in a note issued to investors on Monday, June 2nd. Cormark analyst N. Boychuk now anticipates that the financial services provider will post earnings of $0.15 per share for the year, up from their prior forecast of $0.14. The consensus estimate for Loop Industries’ current full-year earnings is ($0.47) per share. Cormark also issued estimates for Loop Industries’ FY2029 earnings at $0.26 EPS.

Loop Industries Stock Down 6.7%

NASDAQ LOOP opened at $1.25 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.12 and a quick ratio of 0.11. The company’s 50 day simple moving average is $1.05 and its 200 day simple moving average is $1.18. Loop Industries has a 12 month low of $0.85 and a 12 month high of $2.69. The company has a market capitalization of $59.53 million, a P/E ratio of -2.23 and a beta of 1.73.

Loop Industries (NASDAQ:LOOP) last released its earnings results on Thursday, May 29th. The financial services provider reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.23. Loop Industries had a negative net margin of 21,561.11% and a negative return on equity of 350.30%. The business had revenue of $10.81 million for the quarter, compared to the consensus estimate of $0.03 million.

Institutional Investors Weigh In On Loop Industries

Large investors have recently made changes to their positions in the company. Virtu Financial LLC acquired a new stake in shares of Loop Industries during the fourth quarter valued at approximately $33,000. CacheTech Inc. acquired a new stake in shares of Loop Industries during the fourth quarter valued at approximately $30,000. 4WEALTH Advisors Inc. acquired a new stake in shares of Loop Industries during the fourth quarter valued at approximately $60,000. Balboa Wealth Partners raised its holdings in shares of Loop Industries by 50.5% during the fourth quarter. Balboa Wealth Partners now owns 76,124 shares of the financial services provider’s stock valued at $91,000 after acquiring an additional 25,549 shares during the period. Finally, Millennium Management LLC acquired a new stake in shares of Loop Industries during the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 4.89% of the company’s stock.

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.