Loop Industries, Inc. (NASDAQ:LOOP – Get Free Report)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.28 and traded as high as $1.45. Loop Industries shares last traded at $1.38, with a volume of 141,781 shares traded.
Loop Industries Stock Performance
The company’s fifty day moving average is $1.35 and its two-hundred day moving average is $1.27. The company has a market cap of $66.71 million, a price-to-earnings ratio of -23.00 and a beta of 1.44.
Institutional Investors Weigh In On Loop Industries
A number of large investors have recently modified their holdings of the business. Corient Private Wealth LLC purchased a new stake in Loop Industries during the 2nd quarter valued at about $346,000. Osaic Holdings Inc. grew its stake in Loop Industries by 17,220.7% during the 2nd quarter. Osaic Holdings Inc. now owns 168,011 shares of the financial services provider’s stock valued at $239,000 after acquiring an additional 167,041 shares in the last quarter. Fifth Third Bancorp purchased a new stake in Loop Industries during the 1st quarter valued at about $215,000. Citadel Advisors LLC grew its stake in Loop Industries by 564.3% during the 3rd 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. Finally, Susquehanna International Group LLP acquired a new position in Loop Industries during the third quarter worth $49,000. 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.
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