Loop Industries (NASDAQ:LOOP – Get Free Report) had its price objective reduced by analysts at Raymond James from $8.00 to $7.50 in a report issued on Friday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Raymond James’ price target suggests a potential upside of 143.51% from the company’s current price.
Loop Industries Stock Up 1.0 %
NASDAQ LOOP traded up $0.03 during trading hours on Friday, reaching $3.08. 15,840 shares of the company’s stock were exchanged, compared to its average volume of 88,519. The company’s 50-day moving average is $3.15 and its two-hundred day moving average is $2.80. Loop Industries has a one year low of $1.85 and a one year high of $7.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 9.96 and a current ratio of 10.16. The company has a market capitalization of $146.36 million, a price-to-earnings ratio of -13.86 and a beta of 1.50.
Loop Industries (NASDAQ:LOOP – Get Free Report) last posted its earnings results on Thursday, May 18th. The financial services provider reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.09. Loop Industries had a negative return on equity of 66.72% and a negative net margin of 5,137.50%. The business had revenue of $0.01 million during the quarter. On average, analysts forecast that Loop Industries will post -0.28 EPS for the current fiscal year.
Hedge Funds Weigh In On Loop Industries
A number of large investors have recently bought and sold shares of LOOP. Royal Bank of Canada boosted its holdings in shares of Loop Industries by 44.7% in the 1st quarter. Royal Bank of Canada now owns 6,945 shares of the financial services provider’s stock valued at $62,000 after buying an additional 2,145 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Loop Industries in the 1st quarter valued at approximately $35,000. Dimensional Fund Advisors LP acquired a new stake in shares of Loop Industries in the 1st quarter valued at approximately $107,000. Walleye Capital LLC acquired a new stake in shares of Loop Industries in the 1st quarter valued at approximately $141,000. Finally, UBS Group AG boosted its holdings in shares of Loop Industries by 6,002.0% in the 2nd quarter. UBS Group AG now owns 18,306 shares of the financial services provider’s stock valued at $71,000 after buying an additional 18,006 shares during the last quarter. Institutional investors and hedge funds own 4.86% 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.
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Read More: Loop Industries (NASDAQ:LOOP) Given New $7.50 Price Target at Raymond James