Loop Industries (NASDAQ:LOOP) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Loop Industries, Inc. (NASDAQ:LOOP)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.34 and traded as high as $1.3565. Loop Industries shares last traded at $1.35, with a volume of 115,823 shares trading hands.

Loop Industries Trading Up 3.8%

The company has a market cap of $65.26 million, a price-to-earnings ratio of -22.50 and a beta of 1.68. The business has a fifty day moving average of $1.26 and a two-hundred day moving average of $1.34.

Loop Industries (NASDAQ:LOOP) last issued its quarterly earnings results on Wednesday, January 14th. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.78 million. On average, research analysts forecast that Loop Industries, Inc. will post -0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp grew its stake in Loop Industries by 16.3% in the 4th quarter. State Street Corp now owns 88,340 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 12,400 shares during the period. Salvus Wealth Management LLC acquired a new position in Loop Industries during the third quarter worth $29,000. Goldman Sachs Group Inc. raised its position in Loop Industries by 40.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 74,289 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 21,502 shares during the period. Jane Street Group LLC purchased a new position in Loop Industries during the second quarter valued at $39,000. Finally, XTX Topco Ltd purchased a new position in Loop Industries during the fourth quarter valued at $32,000. Hedge funds and other 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.