Cormark Estimates Loop Industries FY2029 Earnings

Loop Industries, Inc. (NASDAQ:LOOP) – Cormark issued their FY2029 EPS estimates for shares of Loop Industries in a note issued to investors 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 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 Stock Up 3.0 %

Shares of LOOP stock opened at $1.03 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.48 and a debt-to-equity ratio of 0.93. Loop Industries has a 52 week low of $0.96 and a 52 week high of $3.84. The company’s fifty day simple moving average is $1.30 and its two-hundred day simple moving average is $1.52. The stock has a market cap of $49.05 million, a P/E ratio of -2.57 and a beta of 1.57.

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

Insider Buying and Selling at Loop Industries

In other news, CEO Daniel Solomita sold 61,278 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $1.56, for a total transaction of $95,593.68. Following the transaction, the chief executive officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 49.80% of the company’s stock.

Hedge Funds Weigh In On Loop Industries

An institutional investor recently raised its position in Loop Industries stock. Balboa Wealth Partners raised its position in Loop Industries, Inc. (NASDAQ:LOOP) by 24.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,575 shares of the financial services provider’s stock after buying an additional 9,880 shares during the period. Balboa Wealth Partners owned about 0.11% of Loop Industries worth $93,000 at the end of the most recent quarter. Institutional investors and hedge funds own 4.89% of the company’s stock.

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.