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

Shares of Loop Industries, Inc. (NASDAQ:LOOP) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.24 and traded as high as $1.3350. Loop Industries shares last traded at $1.29, with a volume of 33,805 shares changing hands.

Loop Industries Stock Down 0.8%

The company has a 50-day moving average of $1.38 and a 200-day moving average of $1.24. The company has a market cap of $62.41 million, a PE ratio of -4.96 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, meeting analysts’ consensus estimates of ($0.06). The company had revenue of $0.18 million during the quarter, compared to analysts’ expectations of $0.78 million. As a group, equities analysts predict that Loop Industries, Inc. will post -0.12 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Corient Private Wealth LLC bought a new stake in Loop Industries in the 2nd quarter worth about $346,000. Osaic Holdings Inc. increased its stake in Loop Industries by 17,220.7% in the 2nd quarter. Osaic Holdings Inc. now owns 168,011 shares of the financial services provider’s stock valued at $239,000 after buying an additional 167,041 shares during the last quarter. Fifth Third Bancorp bought a new position in shares of Loop Industries during the 1st quarter worth approximately $215,000. Citadel Advisors LLC boosted its stake in shares of Loop Industries by 564.3% in the 3rd quarter. Citadel Advisors LLC now owns 44,536 shares of the financial services provider’s stock worth $66,000 after buying an additional 54,129 shares during the last quarter. Finally, Susquehanna International Group LLP purchased a new position in shares of Loop Industries in the 3rd quarter worth approximately $49,000. 4.89% of the stock is owned by institutional investors.

About Loop Industries

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.