Loop Industries (NASDAQ:LOOP) Downgraded by ValuEngine

Loop Industries (NASDAQ:LOOP) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, ValuEngine reports.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Loop Industries from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Loop Industries in a research report on Friday, July 12th.

Shares of NASDAQ LOOP traded down $0.43 during trading on Wednesday, hitting $12.29. 242,706 shares of the company were exchanged, compared to its average volume of 154,866. The company has a market cap of $496.24 million, a price-to-earnings ratio of -31.51 and a beta of 0.55. Loop Industries has a 1 year low of $5.69 and a 1 year high of $18.65. The firm’s fifty day moving average price is $14.51 and its 200 day moving average price is $10.56. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 1.16.

Loop Industries (NASDAQ:LOOP) last issued its earnings results on Monday, July 8th. The financial services provider reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). On average, research analysts forecast that Loop Industries will post -0.4 earnings per share for the current year.

In other Loop Industries news, Director Sidney Mortimer Horn sold 5,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $12.00, for a total transaction of $60,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 55.14% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in LOOP. Handelsbanken Fonder AB raised its stake in shares of Loop Industries by 633.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 146,625 shares of the financial services provider’s stock worth $1,450,000 after buying an additional 126,625 shares during the last quarter. Scotia Capital Inc. raised its stake in shares of Loop Industries by 39.8% during the 2nd quarter. Scotia Capital Inc. now owns 164,299 shares of the financial services provider’s stock worth $1,625,000 after buying an additional 46,784 shares during the last quarter. Handelsinvest Investeringsforvaltning raised its stake in shares of Loop Industries by 200.0% during the 2nd quarter. Handelsinvest Investeringsforvaltning now owns 30,000 shares of the financial services provider’s stock worth $297,000 after buying an additional 20,000 shares during the last quarter. BlackRock Inc. raised its stake in shares of Loop Industries by 6.3% during the 2nd quarter. BlackRock Inc. now owns 66,720 shares of the financial services provider’s stock worth $660,000 after buying an additional 3,941 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Loop Industries by 83.0% during the 2nd quarter. Royal Bank of Canada now owns 6,835 shares of the financial services provider’s stock worth $68,000 after buying an additional 3,100 shares during the last quarter. 4.92% of the stock is owned by institutional investors and hedge funds.

Loop Industries Company Profile

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.

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