Loop Industries (NASDAQ:LOOP) Announces Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Loop Industries (NASDAQ:LOOP) issued its earnings results on Tuesday. The financial services provider reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02), FiscalAI reports. The business had revenue of $0.18 million for the quarter, compared to analysts’ expectations of $0.54 million.

Loop Industries Trading Down 12.9%

Shares of Loop Industries stock opened at $0.83 on Thursday. The stock has a market capitalization of $40.02 million, a price-to-earnings ratio of -3.18 and a beta of 1.45. Loop Industries has a twelve month low of $0.71 and a twelve month high of $2.11. The business’s 50 day simple moving average is $1.09 and its 200-day simple moving average is $1.21.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd bought a new stake in Loop Industries in the fourth quarter valued at $32,000. Jane Street Group LLC bought a new stake in Loop Industries in the 2nd quarter valued at about $39,000. Susquehanna International Group LLP acquired a new position in Loop Industries during the 3rd quarter valued at about $49,000. Citadel Advisors LLC boosted its stake in Loop Industries by 564.3% during the 3rd quarter. Citadel Advisors LLC now owns 44,536 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 54,129 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Loop Industries by 40.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 74,289 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 21,502 shares during the last quarter. 4.89% of the stock is currently owned by institutional investors.

About Loop Industries

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.