Loop Industries (NASDAQ:LOOP) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Loop Industries (NASDAQ:LOOP) in a research note published on Friday, AnalystRatings.com reports. They currently have a $12.00 price target on the financial services provider’s stock.

“In addition to the Spartanburg facility, we expect the company to build at least one more JV facility, and at least two greenfield Waste-to-Resin (WtR) facilities, within the next three to five years.”,” the firm’s analyst wrote.

Separately, ValuEngine raised shares of Zumiez from a sell rating to a hold rating in a report on Saturday, June 22nd.

NASDAQ LOOP opened at $12.19 on Friday. Loop Industries has a 52-week low of $5.69 and a 52-week high of $14.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market cap of $472.83 million, a P/E ratio of -31.26 and a beta of 0.59. The stock’s fifty day moving average is $9.66.

Loop Industries (NASDAQ:LOOP) last posted its quarterly earnings data on Tuesday, May 7th. The financial services provider reported ($0.09) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.09). As a group, sell-side analysts predict that Loop Industries will post -0.4 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of LOOP. BlackRock Inc. lifted its stake in Loop Industries by 5.2% during the 4th quarter. BlackRock Inc. now owns 23,804 shares of the financial services provider’s stock valued at $185,000 after acquiring an additional 1,166 shares during the period. Bank of New York Mellon Corp acquired a new stake in Loop Industries during the 4th quarter valued at approximately $105,000. Northern Trust Corp acquired a new stake in Loop Industries during the 4th quarter valued at approximately $105,000. Geode Capital Management LLC acquired a new stake in Loop Industries during the 4th quarter valued at approximately $346,000. Finally, Handelsinvest Investeringsforvaltning acquired a new stake in Loop Industries during the 1st quarter valued at approximately $79,000. 4.94% of the stock is owned by institutional investors.

About Loop Industries

Loop Industries, Inc focuses on depolymerizing waste polyethylene terephthalate (PET) plastics and polyester fibers into base building blocks. It re-polymerized monomers into virgin-quality PET plastic for use in food-grade plastic packaging, such as water and soda bottles, as well as polyester fibers for textile applications.

See Also: What is a support level?

Receive News & Ratings for Loop Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Loop Industries and related companies with MarketBeat.com's FREE daily email newsletter.