Loop Industries (NASDAQ:LOOP) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

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

Loop Industries Price Performance

Shares of NASDAQ:LOOP traded up $0.10 during mid-day trading on Tuesday, reaching $0.95. 353,518 shares of the company traded hands, compared to its average volume of 72,173. The company’s 50 day moving average price is $1.11 and its 200-day moving average price is $1.21. The firm has a market cap of $45.93 million, a PE ratio of -3.65 and a beta of 1.45. Loop Industries has a 52 week low of $0.71 and a 52 week high of $2.11.

Hedge Funds Weigh In On Loop Industries

Hedge funds have recently modified their holdings of the company. Corient Private Wealth LLC purchased a new position in shares of Loop Industries during the 2nd quarter valued at $346,000. Osaic Holdings Inc. increased its stake in Loop Industries by 17,220.7% in the 2nd quarter. Osaic Holdings Inc. now owns 168,011 shares of the financial services provider’s stock worth $239,000 after buying an additional 167,041 shares in the last quarter. State Street Corp raised its holdings in Loop Industries by 16.3% during the fourth quarter. State Street Corp now owns 88,340 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 12,400 shares during the period. Goldman Sachs Group Inc. raised its holdings in Loop Industries by 40.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 74,289 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 21,502 shares during the period. Finally, Citadel Advisors LLC lifted its position in shares of Loop Industries by 564.3% in the third quarter. Citadel Advisors LLC now owns 44,536 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 54,129 shares in the last quarter. 4.89% of the stock is currently owned by institutional investors.

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.