Loop Industries (NASDAQ:LOOP) Shares Pass Above 200-Day Moving Average – What’s Next?

Loop Industries, Inc. (NASDAQ:LOOP) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.40 and traded as high as $1.62. Loop Industries shares last traded at $1.55, with a volume of 25,719 shares.

Loop Industries Stock Performance

The company has a quick ratio of 2.23, a current ratio of 2.26 and a debt-to-equity ratio of 7.56. The stock has a fifty day moving average of $1.65 and a 200-day moving average of $1.40. The stock has a market cap of $74.46 million, a PE ratio of -6.20 and a beta of 1.91.

Loop Industries (NASDAQ:LOOP) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). Loop Industries had a negative return on equity of 354.97% and a negative net margin of 120.79%. On average, equities analysts forecast that Loop Industries, Inc. will post -0.47 EPS for the current year.

Insiders Place Their Bets

In other Loop Industries news, Director Spencer Hart acquired 20,000 shares of the stock in a transaction on Tuesday, August 5th. The shares were bought at an average price of $1.66 per share, with a total value of $33,200.00. Following the acquisition, the director owned 360,370 shares of the company’s stock, valued at $598,214.20. This trade represents a 5.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders purchased 118,000 shares of company stock valued at $169,278. 45.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Loop Industries

Institutional investors have recently added to or reduced their stakes in the business. Salvus Wealth Management LLC purchased a new stake in Loop Industries in the 3rd quarter valued at approximately $29,000. Jane Street Group LLC purchased a new stake in shares of Loop Industries during the 2nd quarter worth approximately $39,000. Osaic Holdings Inc. boosted its stake in shares of Loop Industries by 17,220.7% during the 2nd quarter. Osaic Holdings Inc. now owns 168,011 shares of the financial services provider’s stock worth $239,000 after acquiring an additional 167,041 shares in the last quarter. Finally, Corient Private Wealth LLC purchased a new stake in shares of Loop Industries during the 2nd quarter worth approximately $346,000. Hedge funds and other institutional investors 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.