Loop Industries (NASDAQ:LOOP) announced its quarterly earnings results on Wednesday. The financial services provider reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.12), Fidelity Earnings reports.
Shares of LOOP stock traded up $0.40 during mid-day trading on Friday, hitting $9.08. 3,707 shares of the stock were exchanged, compared to its average volume of 216,422. The firm has a fifty day moving average of $8.73 and a 200 day moving average of $9.51. The company has a quick ratio of 12.05, a current ratio of 12.05 and a debt-to-equity ratio of 0.07. Loop Industries has a 52-week low of $5.70 and a 52-week high of $13.96. The company has a market cap of $383.29 million, a PE ratio of -20.67 and a beta of 1.19.
Separately, Zacks Investment Research downgraded Loop Industries from a “hold” rating to a “sell” rating in a research report on Friday, October 9th.
Loop Industries, Inc focuses on depolymerizing waste polyethylene terephthalate (PET) plastics and polyester fibers into base building blocks. It polymerized monomers into virgin-quality PET plastic for use in food-grade plastic packaging, such as water and carbonated soft drinks bottles, and containers for food and other consumer products; and polyester fibers comprising carpets, clothing, and other polyester textile to consumer goods companies.
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