Loop Industries (NASDAQ:LOOP) Announces Quarterly Earnings Results

Loop Industries (NASDAQ:LOOP) posted its quarterly earnings results on Wednesday. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01, Zacks reports. The company had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.78 million.

Loop Industries Stock Performance

NASDAQ LOOP opened at $1.17 on Thursday. Loop Industries has a twelve month low of $0.85 and a twelve month high of $2.29. The stock has a market cap of $56.21 million, a PE ratio of -4.68 and a beta of 1.61. The firm has a 50-day simple moving average of $1.09 and a 200 day simple moving average of $1.40.

Institutional Trading of Loop Industries

Hedge funds have recently modified their holdings of the company. Corient Private Wealth LLC bought a new stake in shares of Loop Industries during the second quarter valued at approximately $346,000. Osaic Holdings Inc. lifted its position in Loop Industries by 17,220.7% in the second quarter. Osaic Holdings Inc. now owns 168,011 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 167,041 shares during the period. Citadel Advisors LLC boosted its stake in Loop Industries by 564.3% during the third 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 in the last quarter. Susquehanna International Group LLP bought a new stake in Loop Industries in the 3rd quarter valued at $49,000. Finally, Jane Street Group LLC acquired a new position in shares of Loop Industries in the 2nd quarter valued at $39,000. 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.