Loop Industries (NASDAQ:LOOP) Announces Earnings Results

Loop Industries (NASDAQ:LOOP) posted its quarterly earnings results on Tuesday. The financial services provider reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02), FiscalAI reports. The business had revenue of $0.18 million for the quarter, compared to analyst estimates of $0.54 million.

Loop Industries Stock Up 12.1%

Shares of LOOP traded up $0.10 during trading hours on Tuesday, reaching $0.95. 349,231 shares of the company traded hands, compared to its average volume of 72,173. The business has a fifty day moving average price of $1.11 and a 200-day moving average price of $1.21. Loop Industries has a 12-month low of $0.71 and a 12-month high of $2.11. The stock has a market capitalization of $45.93 million, a P/E ratio of -3.65 and a beta of 1.45.

Institutional Trading of Loop Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new position in shares of Loop Industries in the fourth quarter valued at about $32,000. Jane Street Group LLC purchased a new position in shares of Loop Industries in the second quarter worth about $39,000. Susquehanna International Group LLP purchased a new position in shares of Loop Industries in the third quarter worth about $49,000. Citadel Advisors LLC lifted its holdings in shares of Loop Industries by 564.3% during the third quarter. Citadel Advisors LLC now owns 44,536 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 54,129 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Loop Industries by 40.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 74,289 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 21,502 shares during the period. Institutional investors and hedge funds own 4.89% of the company’s stock.

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.