Loop Industries (NASDAQ:LOOP) Shares Cross Above 200 Day Moving Average – Here’s Why

Loop Industries, Inc. (NASDAQ:LOOP) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.32 and traded as high as $1.40. Loop Industries shares last traded at $1.34, with a volume of 40,459 shares changing hands.

Loop Industries Stock Performance

The company’s fifty day simple moving average is $1.28 and its two-hundred day simple moving average is $1.32. The stock has a market capitalization of $64.78 million, a P/E ratio of -22.33 and a beta of 1.68.

Loop Industries (NASDAQ:LOOP) last issued its quarterly earnings data 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 firm had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.78 million. On average, research analysts predict that Loop Industries, Inc. will post -0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Corient Private Wealth LLC acquired a new position in Loop Industries in the 2nd quarter valued at $346,000. Osaic Holdings Inc. lifted its holdings in shares of Loop Industries by 17,220.7% during the second quarter. Osaic Holdings Inc. now owns 168,011 shares of the financial services provider’s stock worth $239,000 after buying an additional 167,041 shares in the last quarter. State Street Corp boosted its position in shares of Loop Industries by 16.3% in the fourth 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. Goldman Sachs Group Inc. boosted its position in shares of Loop Industries by 40.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 74,289 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 21,502 shares during the period. Finally, Citadel Advisors LLC grew its stake in shares of Loop Industries by 564.3% in the third quarter. Citadel Advisors LLC now owns 44,536 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 54,129 shares in the last quarter. 4.89% of the stock is owned by institutional investors and hedge funds.

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.