Geode Capital Management LLC Has $462,000 Stake in Loop Industries, Inc. (NASDAQ:LOOP)

Geode Capital Management LLC raised its position in shares of Loop Industries, Inc. (NASDAQ:LOOP) by 4.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 250,962 shares of the financial services provider’s stock after purchasing an additional 10,933 shares during the quarter. Geode Capital Management LLC owned 0.53% of Loop Industries worth $462,000 at the end of the most recent quarter.

Separately, Balboa Wealth Partners grew its holdings in shares of Loop Industries by 24.3% during the third quarter. Balboa Wealth Partners now owns 50,575 shares of the financial services provider’s stock valued at $93,000 after buying an additional 9,880 shares in the last quarter. 4.89% of the stock is currently owned by institutional investors and hedge funds.

Loop Industries Price Performance

NASDAQ LOOP opened at $1.20 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.48 and a quick ratio of 0.47. The firm has a market capitalization of $57.14 million, a price-to-earnings ratio of -3.00 and a beta of 1.57. The company has a 50 day simple moving average of $1.32 and a 200-day simple moving average of $1.56. Loop Industries, Inc. has a 52-week low of $1.13 and a 52-week high of $3.95.

Loop Industries (NASDAQ:LOOP) last released its earnings results on Tuesday, October 15th. The financial services provider reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. Loop Industries had a negative net margin of 19,364.00% and a negative return on equity of 164.29%. The company had revenue of $0.02 million during the quarter. Equities research analysts predict that Loop Industries, Inc. will post -0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, CEO Daniel Solomita sold 61,278 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was 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 in the company, valued at approximately $856,006.32. This represents a 10.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 49.80% of the stock is owned by corporate insiders.

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.