Separately, HC Wainwright started coverage on shares of Loop Industries in a research note on Friday, April 26th. They issued a buy rating and a $12.00 price objective for the company.
LOOP opened at $9.30 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.78 and a quick ratio of 0.78. The firm’s 50 day moving average is $7.88. Loop Industries has a twelve month low of $5.69 and a twelve month high of $12.45. The stock has a market capitalization of $348.40 million, a PE ratio of -23.85 and a beta of 0.30.
Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Loop Industries by 5.2% during the 4th quarter. BlackRock Inc. now owns 23,804 shares of the financial services provider’s stock worth $185,000 after purchasing an additional 1,166 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Loop Industries in the 4th quarter worth approximately $105,000. Scotia Capital Inc. boosted its holdings in Loop Industries by 167.0% in the 4th quarter. Scotia Capital Inc. now owns 73,065 shares of the financial services provider’s stock worth $568,000 after buying an additional 45,700 shares during the period. Northern Trust Corp bought a new position in Loop Industries in the 4th quarter worth approximately $105,000. Finally, Geode Capital Management LLC bought a new position in Loop Industries in the 4th quarter worth approximately $346,000. 5.52% of the stock is owned by hedge funds and other institutional investors.
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, as well as polyester fibers for textile applications.
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