Loop Industries (NASDAQ:LOOP) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Loop Industries, Inc. (NASDAQ:LOOP)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.35 and traded as high as $1.4699. Loop Industries shares last traded at $1.42, with a volume of 35,484 shares.

Loop Industries Stock Performance

The firm’s fifty day simple moving average is $1.23 and its 200 day simple moving average is $1.35. The stock has a market capitalization of $66.71 million, a P/E ratio of -23.00 and a beta of 1.68.

Loop Industries (NASDAQ:LOOP) last announced its quarterly earnings data on Wednesday, January 14th. The financial services provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. The business had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.78 million. Analysts anticipate that Loop Industries, Inc. will post -0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Loop Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of LOOP. XTX Topco Ltd acquired a new stake in Loop Industries in the fourth quarter valued at $32,000. State Street Corp grew its position in shares of Loop Industries by 16.3% in the 4th quarter. State Street Corp now owns 88,340 shares of the financial services provider’s stock valued at $88,000 after buying an additional 12,400 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Loop Industries by 40.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 74,289 shares of the financial services provider’s stock valued at $74,000 after buying an additional 21,502 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in shares of Loop Industries in the third quarter valued at about $49,000. Finally, Citadel Advisors LLC raised 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 acquiring an additional 54,129 shares during the last quarter. 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.