Loop Industries (NASDAQ:LOOP) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Loop Industries, Inc. (NASDAQ:LOOP) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.28 and traded as high as $1.45. Loop Industries shares last traded at $1.38, with a volume of 141,781 shares trading hands.

Loop Industries Stock Performance

The company has a market capitalization of $66.71 million, a PE ratio of -23.00 and a beta of 1.44. The business’s 50-day moving average is $1.35 and its 200-day moving average is $1.28.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Corient Private Wealth LLC bought a new stake in Loop Industries during the 2nd quarter valued at about $346,000. Osaic Holdings Inc. increased its stake in 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 valued at $239,000 after purchasing an additional 167,041 shares in the last quarter. Fifth Third Bancorp bought a new stake in Loop Industries during the 1st quarter valued at about $215,000. Citadel Advisors LLC increased its stake in Loop Industries by 564.3% during the 3rd quarter. Citadel Advisors LLC now owns 44,536 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 54,129 shares in the last quarter. Finally, Susquehanna International Group LLP bought a new stake in Loop Industries during the 3rd quarter valued at about $49,000. 4.89% of the stock is owned by hedge funds and other institutional investors.

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.