Van ECK Associates Corp decreased its position in shares of Loop Industries, Inc. (NASDAQ:LOOP) by 12.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 103,394 shares of the financial services provider’s stock after selling 15,178 shares during the period. Van ECK Associates Corp’s holdings in Loop Industries were worth $1,275,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in LOOP. HRT Financial LP purchased a new stake in shares of Loop Industries during the 1st quarter worth approximately $82,000. Goldman Sachs Group Inc. purchased a new stake in shares of Loop Industries during the 1st quarter worth approximately $116,000. Virtu Financial LLC purchased a new stake in shares of Loop Industries during the 1st quarter worth approximately $131,000. Scotia Capital Inc. boosted its stake in shares of Loop Industries by 42.8% during the 1st quarter. Scotia Capital Inc. now owns 21,500 shares of the financial services provider’s stock worth $172,000 after acquiring an additional 6,440 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Loop Industries in the 2nd quarter valued at approximately $191,000. 12.27% of the stock is currently owned by institutional investors and hedge funds.
LOOP stock opened at $11.08 on Wednesday. Loop Industries, Inc. has a 1 year low of $5.70 and a 1 year high of $18.20. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.15 and a current ratio of 2.15. The stock’s 50 day moving average price is $10.18 and its 200 day moving average price is $9.81. The firm has a market cap of $470.29 million, a P/E ratio of -10.26 and a beta of 1.07.
Separately, Zacks Investment Research raised Loop Industries from a “sell” rating to a “hold” rating in a research note on Wednesday.
About Loop Industries
Loop Industries, Inc focuses on depolymerizing waste polyethylene terephthalate (PET) plastics and polyester fibers into base building blocks. It re-polymerized monomers into virgin-quality PET plastic for use in food-grade plastic packaging, such as water and soda bottles; and polyester fibers comprising carpets and clothing for textile applications to consumer goods companies The company was founded by Daniel Solomita in 2015 and is headquartered in Terrebonne, Canada.
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