Tower Research Capital LLC TRC purchased a new stake in Loop Industries Inc (NASDAQ:LOOP) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,142 shares of the financial services provider’s stock, valued at approximately $27,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Creative Planning grew its stake in Loop Industries by 88.4% during the third quarter. Creative Planning now owns 1,640,465 shares of the financial services provider’s stock worth $21,031,000 after buying an additional 769,895 shares in the last quarter. BlackRock Inc. increased its holdings in Loop Industries by 6.3% in the 2nd quarter. BlackRock Inc. now owns 66,720 shares of the financial services provider’s stock valued at $660,000 after buying an additional 3,941 shares during the period. Handelsbanken Fonder AB increased its holdings in Loop Industries by 177.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 406,584 shares of the financial services provider’s stock valued at $5,212,000 after buying an additional 259,959 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Loop Industries by 1.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 47,375 shares of the financial services provider’s stock valued at $469,000 after buying an additional 825 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of Loop Industries by 83.0% in the 2nd quarter. Royal Bank of Canada now owns 6,835 shares of the financial services provider’s stock valued at $68,000 after buying an additional 3,100 shares in the last quarter. 9.04% of the stock is owned by institutional investors and hedge funds.
Several research firms recently issued reports on LOOP. Roth Capital began coverage on shares of Loop Industries in a research report on Monday, October 14th. They set a “buy” rating and a $14.00 price target on the stock. ValuEngine downgraded shares of Loop Industries from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Zacks Investment Research cut Loop Industries from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, HC Wainwright upped their target price on Loop Industries from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th.
Loop Industries (NASDAQ:LOOP) last released its earnings results on Tuesday, October 8th. The financial services provider reported ($0.09) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.09). As a group, equities research analysts anticipate that Loop Industries Inc will post -0.38 earnings per share for the current fiscal year.
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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