Loop Industries (NASDAQ:LOOP – Get Free Report) announced its quarterly earnings results on Wednesday. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $0.18 million for the quarter.
Loop Industries Stock Performance
Shares of NASDAQ LOOP traded down $0.04 during midday trading on Wednesday, reaching $1.35. 29,409 shares of the stock were exchanged, compared to its average volume of 64,752. The company has a 50 day simple moving average of $1.37 and a 200 day simple moving average of $1.24. The stock has a market capitalization of $65.26 million, a P/E ratio of -22.50 and a beta of 1.44. Loop Industries has a twelve month low of $0.88 and a twelve month high of $2.29.
Institutional Trading of Loop Industries
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. XTX Topco Ltd acquired a new stake in Loop Industries in the 4th quarter valued at approximately $32,000. 4WEALTH Advisors Inc. acquired a new stake in Loop Industries in the 1st quarter valued at approximately $38,000. Jane Street Group LLC acquired a new stake in Loop Industries in the 2nd quarter valued at approximately $39,000. Susquehanna International Group LLP acquired a new stake in Loop Industries in the 3rd quarter valued at approximately $49,000. Finally, CacheTech Inc. increased its holdings 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 purchasing an additional 10,310 shares during the last quarter. Institutional investors and hedge funds 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.
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