Loop Industries (NASDAQ:LOOP) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Loop Industries (NASDAQ:LOOP) released its quarterly earnings results on Monday. The financial services provider reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.04), MarketWatch Earnings reports.

LOOP stock traded down $0.34 during trading hours on Wednesday, hitting $10.70. The company’s stock had a trading volume of 523 shares, compared to its average volume of 100,678. The company has a quick ratio of 11.59, a current ratio of 11.59 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $504.61 million, a PE ratio of -9.68 and a beta of 1.03. Loop Industries has a 12 month low of $7.49 and a 12 month high of $18.20. The stock has a 50 day moving average price of $13.47 and a two-hundred day moving average price of $12.07.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its holdings in shares of Loop Industries by 28.2% during the 3rd quarter. Royal Bank of Canada now owns 6,649 shares of the financial services provider’s stock worth $76,000 after buying an additional 1,463 shares during the period. Millennium Management LLC acquired a new position in shares of Loop Industries in the 2nd quarter valued at $198,000. Finally, Morgan Stanley raised its stake in shares of Loop Industries by 101.0% in the 2nd quarter. Morgan Stanley now owns 25,917 shares of the financial services provider’s stock valued at $320,000 after buying an additional 13,023 shares in the last quarter. 21.09% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently commented on LOOP shares. HC Wainwright reiterated a “buy” rating on shares of Loop Industries in a research note on Tuesday, October 19th. Raymond James began coverage on Loop Industries in a research report on Thursday, October 28th. They issued an “outperform” rating and a $19.50 target price on the stock. Finally, Zacks Investment Research raised Loop Industries from a “sell” rating to a “hold” rating in a report on Thursday, October 21st.

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; and polyester fibers comprising carpets and clothing for textile applications to consumer goods companies The company was founded by Daniel Solomita in 2015 and is headquartered in Terrebonne, Canada.

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Earnings History for Loop Industries (NASDAQ:LOOP)

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