Loop Industries (NASDAQ:LOOP) Announces Earnings Results, Beats Estimates By $0.02 EPS

Loop Industries (NASDAQ:LOOP) posted its quarterly earnings data on Tuesday. The financial services provider reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.02, Zacks reports. Loop Industries had a negative return on equity of 164.29% and a negative net margin of 19,364.00%.

Loop Industries Stock Down 4.8 %

Shares of Loop Industries stock traded down $0.06 during midday trading on Tuesday, hitting $1.19. The company’s stock had a trading volume of 40,772 shares, compared to its average volume of 106,934. The company has a quick ratio of 0.47, a current ratio of 0.48 and a debt-to-equity ratio of 0.93. Loop Industries has a 1-year low of $1.13 and a 1-year high of $3.85. The stock has a 50-day simple moving average of $1.32 and a 200-day simple moving average of $1.55. The firm has a market capitalization of $56.67 million, a P/E ratio of -2.97 and a beta of 1.57.

Analysts Set New Price Targets

Separately, Cormark raised shares of Loop Industries to a “moderate buy” rating in a research report on Monday, September 30th.

Insider Buying and Selling at Loop Industries

In related news, CEO Daniel Solomita sold 61,278 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $1.56, for a total value of $95,593.68. Following the completion of the sale, the chief executive officer now directly owns 548,722 shares in the company, valued at approximately $856,006.32. This represents a 10.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 49.80% of the company’s stock.

Loop Industries Company Profile

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.