Towneley Capital Management Inc DE Acquires New Position in Loop Industries, Inc. (NASDAQ:LOOP)

Towneley Capital Management Inc DE acquired a new stake in Loop Industries, Inc. (NASDAQ:LOOP) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 67,857 shares of the financial services provider’s stock, valued at approximately $78,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Balboa Wealth Partners raised its position in shares of Loop Industries by 50.5% during the 4th 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 last quarter. Virtu Financial LLC acquired a new stake in shares of Loop Industries during the fourth quarter worth $33,000. CacheTech Inc. bought a new stake in Loop Industries in the fourth quarter valued at about $30,000. 4WEALTH Advisors Inc. acquired a new position in Loop Industries in the fourth quarter valued at about $60,000. Finally, Millennium Management LLC bought a new position in Loop Industries during the fourth quarter worth about $41,000. 4.89% of the stock is owned by institutional investors.

Loop Industries Price Performance

Loop Industries stock opened at $1.73 on Friday. The company has a current ratio of 0.12, a quick ratio of 0.11 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $82.55 million, a P/E ratio of -3.09 and a beta of 1.77. The business has a 50-day moving average of $1.08 and a 200-day moving average of $1.19. Loop Industries, Inc. has a 1 year low of $0.85 and a 1 year high of $2.61.

Loop Industries (NASDAQ:LOOP) last released its quarterly earnings data on Thursday, May 29th. The financial services provider reported $0.14 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $0.03 million. On average, equities analysts anticipate that Loop Industries, Inc. will post -0.47 EPS for the current year.

About Loop Industries

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.