Loop Industries (NASDAQ:LOOP) Announces Quarterly Earnings Results

Loop Industries (NASDAQ:LOOP) released its quarterly earnings results on Wednesday. The financial services provider reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01, Zacks reports.

Loop Industries Stock Up 3.5%

Shares of NASDAQ LOOP traded up $0.04 during mid-day trading on Wednesday, reaching $1.17. 68,599 shares of the company were exchanged, compared to its average volume of 57,119. Loop Industries has a 52 week low of $0.85 and a 52 week high of $2.29. The company’s 50 day moving average price is $1.10 and its 200 day moving average price is $1.40. The stock has a market capitalization of $56.21 million, a PE ratio of -4.68 and a beta of 1.61.

Institutional Trading of Loop Industries

Several hedge funds and other institutional investors have recently bought and sold shares of LOOP. Corient Private Wealth LLC bought a new stake in shares of Loop Industries in the 2nd quarter worth approximately $346,000. Osaic Holdings Inc. raised its position 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 worth $239,000 after purchasing an additional 167,041 shares during the period. Citadel Advisors LLC lifted its stake in Loop Industries by 564.3% in the third quarter. Citadel Advisors LLC now owns 44,536 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 54,129 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in Loop Industries during the third quarter valued at about $49,000. Finally, Jane Street Group LLC purchased a new stake in Loop Industries during the second quarter valued at about $39,000. Hedge funds and other institutional investors own 4.89% of the company’s stock.

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.