Loop Industries (NASDAQ:LOOP) Announces Earnings Results

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, topping analysts’ consensus estimates of ($0.09) by $0.02, Zacks reports. 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 NASDAQ LOOP traded down $0.06 during mid-day trading on Tuesday, reaching $1.19. 40,772 shares of the company traded hands, compared to its average volume of 106,934. Loop Industries has a fifty-two week low of $1.13 and a fifty-two week high of $3.85. The firm has a market cap of $56.67 million, a PE ratio of -2.97 and a beta of 1.57. The stock has a fifty day simple moving average of $1.32 and a 200-day simple moving average of $1.55. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.48 and a quick ratio of 0.47.

Insider Activity

In other news, CEO Daniel Solomita sold 61,278 shares of Loop Industries 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 transaction, the chief executive officer now owns 548,722 shares of the company’s stock, valued at $856,006.32. The trade was a 10.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 49.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Cormark raised shares of Loop Industries to a “moderate buy” rating in a report on Monday, September 30th.

About Loop Industries

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.