Loop Industries’ (LOOP) Buy Rating Reiterated at HC Wainwright

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HC Wainwright reaffirmed their buy rating on shares of Loop Industries (NASDAQ:LOOP) in a research note published on Monday morning, AnalystRatings.com reports. They currently have a $15.00 price objective on the financial services provider’s stock.

Several other equities research analysts have also recently issued reports on LOOP. Zacks Investment Research cut shares of Loop Industries from a buy rating to a hold rating in a research report on Friday, January 10th. ValuEngine cut shares of Loop Industries from a hold rating to a sell rating in a research report on Thursday, December 26th. Finally, Roth Capital assumed coverage on shares of Loop Industries in a research report on Monday, October 14th. They set a buy rating and a $14.00 price objective for the company.

Loop Industries stock opened at $9.96 on Monday. The stock has a market cap of $401.35 million, a P/E ratio of -25.54 and a beta of 0.47. The company has a fifty day simple moving average of $10.58 and a 200-day simple moving average of $12.00. Loop Industries has a 12-month low of $6.33 and a 12-month high of $18.65. The company has a current ratio of 5.48, a quick ratio of 5.48 and a debt-to-equity ratio of 0.02.

Loop Industries (NASDAQ:LOOP) last released its quarterly earnings data on Thursday, January 9th. The financial services provider reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). As a group, sell-side analysts forecast that Loop Industries will post -0.38 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in LOOP. Tower Research Capital LLC TRC purchased a new stake in Loop Industries in the third quarter valued at $27,000. Royal Bank of Canada lifted its position in Loop Industries by 83.0% in the second quarter. Royal Bank of Canada now owns 6,835 shares of the financial services provider’s stock valued at $68,000 after acquiring an additional 3,100 shares during the last quarter. Virtu Financial LLC purchased a new stake in Loop Industries in the third quarter valued at $246,000. Charles Schwab Investment Management Inc. lifted its position in Loop Industries by 1.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 47,375 shares of the financial services provider’s stock valued at $469,000 after acquiring an additional 825 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Loop Industries by 6.3% in the second quarter. BlackRock Inc. now owns 66,720 shares of the financial services provider’s stock valued at $660,000 after acquiring an additional 3,941 shares during the last quarter. 9.09% of the stock is owned by hedge funds and other institutional investors.

About Loop Industries

Loop Industries, Inc focuses on depolymerizing waste polyethylene terephthalate (PET) plastics and polyester fibers into base building blocks. It re-polymerized monomers into virgin-quality PET plastic for use in food-grade plastic packaging, such as water and soda bottles, as well as polyester fibers for textile applications.

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