Loop Industries (NASDAQ:LOOP) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Loop Industries (NASDAQ:LOOP) posted its quarterly earnings data on Monday. The financial services provider reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.04), MarketWatch Earnings reports.

NASDAQ:LOOP opened at $11.04 on Wednesday. The company has a current ratio of 11.59, a quick ratio of 11.59 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $520.65 million, a price-to-earnings ratio of -9.68 and a beta of 1.03. The firm’s fifty day simple moving average is $13.47 and its 200 day simple moving average is $12.07. Loop Industries has a twelve month low of $7.49 and a twelve month high of $18.20.

Hedge funds have recently modified their holdings of the business. Morgan Stanley increased its position in shares of Loop Industries by 101.0% in the 2nd quarter. Morgan Stanley now owns 25,917 shares of the financial services provider’s stock worth $320,000 after purchasing an additional 13,023 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Loop Industries during the second quarter valued at approximately $198,000. Finally, Royal Bank of Canada raised its holdings in shares of Loop Industries by 28.2% during the third quarter. Royal Bank of Canada now owns 6,649 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 1,463 shares during the period. Hedge funds and other institutional investors own 21.09% of the company’s stock.

A number of research firms recently commented on LOOP. Raymond James began coverage on Loop Industries in a report on Thursday, October 28th. They issued an “outperform” rating and a $19.50 price objective on the stock. HC Wainwright reissued a “buy” rating on shares of Loop Industries in a report on Tuesday, October 19th. Finally, Zacks Investment Research raised Loop Industries from a “sell” rating to a “hold” rating in a report on Thursday, October 21st.

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; and polyester fibers comprising carpets and clothing for textile applications to consumer goods companies The company was founded by Daniel Solomita in 2015 and is headquartered in Terrebonne, Canada.

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Earnings History for Loop Industries (NASDAQ:LOOP)

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