Loop Industries, Inc. (NASDAQ:LOOP - Free Report) - Cormark upped their FY2026 earnings estimates for Loop Industries in a note issued to investors on Monday, June 2nd. Cormark analyst N. Boychuk now forecasts that the financial services provider will earn ($0.17) per share for the year, up from their prior estimate of ($0.18). The consensus estimate for Loop Industries' current full-year earnings is ($0.47) per share. Cormark also issued estimates for Loop Industries' FY2027 earnings at $0.01 EPS.
Loop Industries (NASDAQ:LOOP - Get Free Report) last issued its earnings results on Thursday, May 29th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.23. Loop Industries had a negative net margin of 21,561.11% and a negative return on equity of 350.30%. The company had revenue of $10.81 million for the quarter, compared to analysts' expectations of $0.03 million.
Loop Industries Stock Up 3.0%
Shares of NASDAQ:LOOP traded up $0.05 during trading on Wednesday, reaching $1.73. The stock had a trading volume of 259,080 shares, compared to its average volume of 430,538. Loop Industries has a one year low of $0.85 and a one year high of $2.61. The company has a market capitalization of $82.55 million, a P/E ratio of -3.09 and a beta of 1.77. The company has a current ratio of 0.12, a quick ratio of 0.11 and a debt-to-equity ratio of 0.93. The firm's 50-day simple moving average is $1.08 and its 200 day simple moving average is $1.19.
Hedge Funds Weigh In On Loop Industries
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Balboa Wealth Partners raised its position in shares of Loop Industries by 50.5% in the 4th quarter. Balboa Wealth Partners now owns 76,124 shares of the financial services provider's stock valued at $91,000 after purchasing an additional 25,549 shares during the last quarter. Towneley Capital Management Inc DE purchased a new position in shares of Loop Industries in the 1st quarter valued at approximately $78,000. 4WEALTH Advisors Inc. purchased a new position in shares of Loop Industries in the 4th quarter valued at approximately $60,000. Millennium Management LLC purchased a new position in shares of Loop Industries in the 4th quarter valued at approximately $41,000. Finally, Virtu Financial LLC purchased a new position in shares of Loop Industries in the 4th quarter valued at approximately $33,000. 4.89% of the stock is owned by hedge funds and other institutional investors.
About Loop Industries
(
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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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