Loop Industries (NASDAQ:LOOP) Issues Earnings Results

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

Loop Industries Trading Up 12.1%

LOOP stock traded up $0.10 during mid-day trading on Tuesday, reaching $0.95. The company’s stock had a trading volume of 349,231 shares, compared to its average volume of 72,173. The company’s 50 day moving average is $1.11 and its two-hundred day moving average is $1.21. Loop Industries has a fifty-two week low of $0.71 and a fifty-two week high of $2.11. The stock has a market cap of $45.93 million, a PE ratio of -3.65 and a beta of 1.45.

Hedge Funds Weigh In On Loop Industries

A number of hedge funds have recently made changes to their positions in LOOP. XTX Topco Ltd purchased a new stake in Loop Industries in the fourth quarter valued at approximately $32,000. Jane Street Group LLC purchased a new stake in Loop Industries during the second quarter worth about $39,000. Susquehanna International Group LLP acquired a new stake in shares of Loop Industries during the third quarter worth about $49,000. Citadel Advisors LLC lifted its position 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 in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Loop Industries by 40.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 74,289 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 21,502 shares during the period. Hedge funds and other institutional investors own 4.89% of the company’s stock.

Loop Industries Company Profile

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.