Loop Industries (NASDAQ:LOOP) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Loop Industries, Inc. (NASDAQ:LOOP)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.24 and traded as high as $1.40. Loop Industries shares last traded at $1.35, with a volume of 29,410 shares.

Loop Industries Stock Down 2.9%

The firm’s 50-day moving average price is $1.38 and its 200 day moving average price is $1.24. The firm has a market cap of $65.26 million, a P/E ratio of -22.50 and a beta of 1.44.

Loop Industries (NASDAQ:LOOP) last released its quarterly earnings results on Wednesday, May 27th. The financial services provider reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). The firm had revenue of $0.18 million for the quarter, compared to the consensus estimate of $0.78 million. On average, equities analysts predict that Loop Industries, Inc. will post -0.26 earnings per share for the current year.

Hedge Funds Weigh In On Loop Industries

A number of institutional investors and hedge funds have recently bought and sold shares of LOOP. XTX Topco Ltd bought a new position in Loop Industries in the 4th quarter valued at about $32,000. 4WEALTH Advisors Inc. bought a new position in Loop Industries in the 1st quarter valued at about $38,000. Jane Street Group LLC bought a new position in Loop Industries in the 2nd quarter valued at about $39,000. Susquehanna International Group LLP bought a new position in Loop Industries in the 3rd quarter valued at about $49,000. Finally, CacheTech Inc. grew its position in Loop Industries by 38.8% in the 1st quarter. CacheTech Inc. now owns 36,870 shares of the financial services provider’s stock valued at $53,000 after buying an additional 10,310 shares in the last quarter. 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.