Loop Industries (NASDAQ:LOOP) Announces Quarterly Earnings Results

Loop Industries (NASDAQ:LOOP - Get Free Report) released its quarterly earnings results on Wednesday. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01, Zacks reports.Get Loop Industries alerts:Loop Industries Stock PerformanceShares of LOOP stock traded up $0.04 during midday trading on Wednesday, reaching $1.17. 68,599 shares of the company were exchanged, compared to its average volume of 57,119. The company's 50 day moving average price is $1.10 and its two-hundred day moving average price is $1.40. Loop Industries has a 12 month low of $0.85 and a 12 month high of $2.29. The company has a market cap of $56.21 million, a P/E ratio of -4.68 and a beta of 1.61. Hedge Funds Weigh In On Loop IndustriesSeveral hedge funds have recently made changes to their positions in the business. Jane Street Group LLC acquired a new stake in Loop Industries in the 2nd quarter valued at approximately $39,000. Susquehanna International Group LLP acquired a new stake in Loop Industries in the 3rd quarter worth $49,000. Citadel Advisors LLC increased its holdings in shares of Loop Industries by 564.3% during the 3rd quarter. Citadel Advisors LLC now owns 44,536 shares of the financial services provider's stock worth $66,000 after purchasing an additional 54,129 shares during the period. Osaic Holdings Inc. raised its position in shares of Loop Industries by 17,220.7% during the second quarter. Osaic Holdings Inc. now owns 168,011 shares of the financial services provider's stock valued at $239,000 after buying an additional 167,041 shares during the last quarter. Finally, Corient Private Wealth LLC bought a new stake in shares of Loop Industries in the second quarter valued at about $346,000. Institutional investors and hedge funds own 4.89% of the company's stock. Loop Industries Company Profile (Get Free Report)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.Read MoreFive stocks we like better than Loop IndustriesIf You Keep Cash In A U.S. Bank Account… Read This NOWDo not delete, read immediatelyA U.S. “birthright” claim worth trillions - activated quietlyWall Street Stock picker Names #1 Stock of 2026“Fed Proof” Your Bank Account with THESE 4 Simple StepsThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Loop Industries Right Now?Before you consider Loop Industries, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Loop Industries wasn't on the list.While Loop Industries currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here