Loop Industries (NASDAQ:LOOP) Issues Quarterly Earnings Results

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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.

About Loop Industries

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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Earnings History for Loop Industries (NASDAQ:LOOP)

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