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

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

Wall Street Analyst Weigh In

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

Loop Industries Stock Performance

The firm’s fifty day simple moving average is $1.44 and its 200 day simple moving average is $1.72. The company has a market capitalization of $87.14 million, a PE ratio of -4.57 and a beta of 1.54. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.48 and a quick ratio of 0.47.

Loop Industries (NASDAQ:LOOP) last issued its earnings results on Tuesday, October 15th. The financial services provider reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The firm had revenue of $0.02 million for the quarter. Loop Industries had a negative return on equity of 164.29% and a negative net margin of 19,364.00%. On average, research analysts predict that Loop Industries, Inc. will post -0.31 EPS for the current year.

Hedge Funds Weigh In On Loop Industries

A hedge fund recently raised its stake in Loop Industries stock. Balboa Wealth Partners raised its position in Loop Industries, Inc. (NASDAQ:LOOP) by 24.3% in the third quarter, according to its most recent Form 13F filing 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 period. Balboa Wealth Partners owned about 0.11% of Loop Industries worth $93,000 at the end of the most recent quarter. Institutional investors and hedge funds own 4.89% of the company’s stock.

About Loop Industries

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.