Loop Industries (NASDAQ:LOOP) Trading Down 3.1% – Time to Sell?

by · The Markets Daily

Loop Industries, Inc. (NASDAQ:LOOP – Get Free Report) dropped 3.1% during trading on Wednesday . The company traded as low as $1.25 and last traded at $1.26. Approximately 31,763 shares traded hands during trading, an increase of 14% from the average daily volume of 27,848 shares. The stock had previously closed at $1.30.

Analyst Ratings Changes

Separately, Cormark upgraded shares of Loop Industries to a “moderate buy” rating in a research report on Monday, September 30th.

Get Our Latest Stock Analysis on Loop Industries

Loop Industries Price Performance

The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.47 and a current ratio of 0.48. The company has a market cap of $60.00 million, a P/E ratio of -3.15 and a beta of 1.54. The firm’s fifty day moving average is $1.45 and its two-hundred day moving average is $1.73.

Loop Industries (NASDAQ:LOOP – Get Free Report) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The firm had revenue of $0.02 million during the quarter. Loop Industries had a negative return on equity of 164.29% and a negative net margin of 19,364.00%. As a group, analysts anticipate that Loop Industries, Inc. will post -0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Loop Industries

An institutional investor recently raised its position in Loop Industries stock. Balboa Wealth Partners lifted its stake in Loop Industries, Inc. (NASDAQ:LOOP – Free Report) by 24.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,575 shares of the financial services provider’s stock after buying an additional 9,880 shares during the quarter. Balboa Wealth Partners owned approximately 0.11% of Loop Industries worth $93,000 at the end of the most recent reporting period. 4.89% of the stock is owned by institutional investors and hedge funds.

About Loop Industries

(Get Free Report)

Loop Industries, Inc, a technology company, focuses on depolymerizing waste polyethylene terephthalate PET plastics and polyester fibers, including plastic bottles, packaging, carpets and textiles of any color, transparency and even ocean plastics that have been degraded by the sun and salt, to its base building blocks.

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