Cormark Comments on Loop Industries FY2029 Earnings

Loop Industries, Inc. (NASDAQ:LOOP) – Investment analysts at Cormark issued their FY2029 earnings per share (EPS) estimates for shares of Loop Industries in a report issued on Thursday, January 16th. Cormark analyst N. Boychuk expects that the financial services provider will post earnings of $0.25 per share for the year. Cormark currently has a “Moderate Buy” rating on the stock. The consensus estimate for Loop Industries’ current full-year earnings is ($0.31) per share.

Loop Industries (NASDAQ:LOOP) last announced its quarterly earnings results on Tuesday, January 14th. The financial services provider reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. Loop Industries had a negative return on equity of 164.29% and a negative net margin of 19,364.00%.

Loop Industries Price Performance

Shares of LOOP opened at $1.00 on Friday. Loop Industries has a 12 month low of $1.00 and a 12 month high of $3.84. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.47 and a current ratio of 0.48. The stock has a fifty day moving average price of $1.31 and a 200 day moving average price of $1.53.

Hedge Funds Weigh In On Loop Industries

A hedge fund recently raised its stake in Loop Industries stock. Balboa Wealth Partners grew its holdings in shares of Loop Industries, Inc. (NASDAQ:LOOP) by 24.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 50,575 shares of the financial services provider’s stock after acquiring an additional 9,880 shares during the quarter. Balboa Wealth Partners owned about 0.11% of Loop Industries worth $93,000 as of its most recent SEC filing. 4.89% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Loop Industries news, CEO Daniel Solomita sold 61,278 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $1.56, for a total value of $95,593.68. Following the sale, the chief executive officer now owns 548,722 shares in the company, valued at approximately $856,006.32. This trade represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 49.80% of the company’s stock.

Loop Industries Company Profile

Loop Industries, Inc, a technology company, focuses on depolymerizing waste polyethylene terephthalate PET plastics and polyester fibers, including plastic bottles, packaging, carpets and textiles of any color, transparency and even ocean plastics that have been degraded by the sun and salt, to its base building blocks.