Loop Industries (NASDAQ:LOOP) Stock Passes Above 200-Day Moving Average – What’s Next?

Shares of Loop Industries, Inc. (NASDAQ:LOOP) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.35 and traded as high as $1.4699. Loop Industries shares last traded at $1.42, with a volume of 35,484 shares traded.

Loop Industries Price Performance

The firm has a market capitalization of $68.64 million, a PE ratio of -23.67 and a beta of 1.68. The business’s 50 day moving average is $1.23 and its two-hundred day moving average is $1.35.

Loop Industries (NASDAQ:LOOP) last released its quarterly earnings results on Wednesday, January 14th. The financial services provider reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.78 million. Analysts expect that Loop Industries, Inc. will post -0.47 EPS for the current fiscal year.

Institutional Trading of Loop Industries

Several hedge funds and other institutional investors have recently bought and sold shares of LOOP. Salvus Wealth Management LLC bought a new position in Loop Industries during the third quarter valued at approximately $29,000. Jane Street Group LLC purchased a new stake in shares of Loop Industries in the 2nd quarter valued at $39,000. XTX Topco Ltd bought a new position in shares of Loop Industries during the 4th quarter valued at $32,000. Susquehanna International Group LLP bought a new position in shares of Loop Industries during the 3rd quarter valued at $49,000. Finally, Citadel Advisors LLC raised its position in Loop Industries by 564.3% in the 3rd quarter. Citadel Advisors LLC now owns 44,536 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 54,129 shares during the period. Hedge funds and other institutional investors own 4.89% of the company’s stock.

Loop Industries Company Profile

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.