Cormark Has Positive View of Loop Industries FY2028 Earnings

Loop Industries, Inc. (NASDAQ:LOOP) – Stock analysts at Cormark lifted their FY2028 earnings estimates for Loop Industries in a research report issued on Monday, June 2nd. Cormark analyst N. Boychuk now forecasts that the financial services provider will post earnings of $0.15 per share for the year, up from their prior estimate of $0.14. The consensus estimate for Loop Industries’ current full-year earnings is ($0.47) per share. Cormark also issued estimates for Loop Industries’ FY2029 earnings at $0.26 EPS.

Loop Industries (NASDAQ:LOOP) last announced its quarterly earnings data on Thursday, May 29th. The financial services provider reported $0.14 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $10.81 million for the quarter, compared to the consensus estimate of $0.03 million.

Loop Industries Stock Performance

Shares of LOOP opened at $1.25 on Tuesday. The company’s 50 day moving average price is $1.05 and its 200 day moving average price is $1.18. Loop Industries has a 52 week low of $0.85 and a 52 week high of $2.69. The company has a market capitalization of $59.53 million, a PE ratio of -2.23 and a beta of 1.73. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.11 and a current ratio of 0.12.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Balboa Wealth Partners lifted its stake in shares of Loop Industries by 50.5% in the 4th quarter. Balboa Wealth Partners now owns 76,124 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 25,549 shares during the last quarter. Virtu Financial LLC acquired a new position in Loop Industries during the fourth quarter worth $33,000. CacheTech Inc. acquired a new position in Loop Industries during the fourth quarter worth $30,000. 4WEALTH Advisors Inc. bought a new position in Loop Industries during the fourth quarter valued at about $60,000. Finally, Millennium Management LLC acquired a new stake in shares of Loop Industries in the fourth quarter worth about $41,000. Institutional investors and hedge funds own 4.89% of the company’s stock.

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.