Loop Industries (NASDAQ:LOOP) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Loop Industries, Inc. (NASDAQ:LOOP) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.32 and traded as high as $1.40. Loop Industries shares last traded at $1.34, with a volume of 40,459 shares changing hands.

Loop Industries Stock Down 1.5%

The firm has a market cap of $64.78 million, a P/E ratio of -22.33 and a beta of 1.68. The business has a fifty day moving average of $1.28 and a 200 day moving average of $1.32.

Loop Industries (NASDAQ:LOOP) last released its quarterly earnings data on Wednesday, January 14th. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.78 million. Research analysts expect that Loop Industries, Inc. will post -0.47 EPS for the current year.

Institutional Investors Weigh In On Loop Industries

Large investors have recently added to or reduced their stakes in the business. Salvus Wealth Management LLC bought a new position in Loop Industries during the third quarter worth $29,000. XTX Topco Ltd acquired a new position in shares of Loop Industries in the fourth quarter valued at $32,000. Jane Street Group LLC bought a new position in shares of Loop Industries in the second quarter valued at about $39,000. Susquehanna International Group LLP bought a new position in shares of Loop Industries in the third quarter valued at about $49,000. Finally, Citadel Advisors LLC lifted its stake 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. 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.