Loop Industries (NASDAQ:LOOP) Upgraded to “Buy” at ValuEngine
Separately, HC Wainwright assumed coverage on shares of Loop Industries in a research note on Friday, April 26th. They set a buy rating and a $12.00 target price on the stock.
LOOP stock opened at $9.30 on Friday. The company has a 50-day moving average price of $7.88. Loop Industries has a 12-month low of $5.69 and a 12-month high of $12.45. The stock has a market capitalization of $348.40 million, a PE ratio of -23.85 and a beta of 0.30. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.78 and a quick ratio of 0.78.
Several institutional investors and hedge funds have recently made changes to their positions in LOOP. Scotia Capital Inc. boosted its stake in shares of Loop Industries by 167.0% during the 4th quarter. Scotia Capital Inc. now owns 73,065 shares of the financial services provider’s stock valued at $568,000 after purchasing an additional 45,700 shares in the last quarter. Geode Capital Management LLC bought a new stake in shares of Loop Industries during the 4th quarter valued at about $346,000. Creative Planning boosted its stake in shares of Loop Industries by 4.2% during the 1st quarter. Creative Planning now owns 867,570 shares of the financial services provider’s stock valued at $6,871,000 after purchasing an additional 35,000 shares in the last quarter. Handelsbanken Fonder AB bought a new stake in shares of Loop Industries during the 1st quarter valued at about $158,000. Finally, Northern Trust Corp bought a new stake in shares of Loop Industries during the 4th quarter valued at about $105,000. 5.52% of the stock is currently owned by hedge funds and other institutional investors.
Loop Industries Company Profile
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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