Loop Industries (NASDAQ:LOOP) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Loop Industries, Inc. (NASDAQ:LOOP)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.29 and traded as high as $1.41. Loop Industries shares last traded at $1.37, with a volume of 11,207 shares changing hands.

Loop Industries Trading Down 1.4%

The business has a 50-day moving average price of $1.34 and a two-hundred day moving average price of $1.29. The stock has a market capitalization of $66.23 million, a P/E ratio of -22.83 and a beta of 1.60.

Loop Industries (NASDAQ:LOOP) last released its earnings results on Wednesday, January 14th. The financial services provider reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.78 million. On average, sell-side analysts forecast that Loop Industries, Inc. will post -0.47 earnings per share for the current fiscal year.

Institutional Trading of Loop Industries

Institutional investors and hedge funds have recently modified their holdings of the business. Salvus Wealth Management LLC bought a new stake in shares of Loop Industries during the 3rd quarter worth $29,000. Jane Street Group LLC bought a new stake in shares of Loop Industries during the 2nd quarter worth $39,000. XTX Topco Ltd bought a new stake in shares of Loop Industries during the 4th quarter worth $32,000. Susquehanna International Group LLP bought a new stake in shares of Loop Industries during the 3rd quarter worth $49,000. Finally, Citadel Advisors LLC lifted its position in shares of Loop Industries by 564.3% during the 3rd quarter. Citadel Advisors LLC now owns 44,536 shares of the financial services provider’s stock worth $66,000 after buying an additional 54,129 shares during the last quarter. 4.89% of the stock is currently owned by institutional investors.

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.