Loop Industries (NASDAQ:LOOP) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Technical move: Loop Industries shares crossed above their 200-day moving average of $1.28, trading as high as $1.45 and last at $1.38 on volume of 141,781 shares.
• Institutional interest: Several funds recently bought or raised positions (notably Osaic and Citadel), with about 4.89% of the stock owned by hedge funds and other institutions.
• Business focus: Loop is a sustainable-plastics technology company that uses a proprietary depolymerization process to convert end-of-life PET into virgin-quality resin for closed-loop recycling.

Loop Industries, Inc. (NASDAQ:LOOP - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.28 and traded as high as $1.45. Loop Industries shares last traded at $1.38, with a volume of 141,781 shares changing hands.

Loop Industries Stock Performance

The firm has a market cap of $66.71 million, a PE ratio of -23.00 and a beta of 1.44. The company's 50-day simple moving average is $1.35 and its two-hundred day simple moving average is $1.28.

Institutional Investors Weigh In On Loop Industries

Several institutional investors and hedge funds have recently modified their holdings of LOOP. Corient Private Wealth LLC purchased a new position in Loop Industries during the 2nd quarter valued at about $346,000. Osaic Holdings Inc. lifted its position in Loop Industries by 17,220.7% during the 2nd quarter. Osaic Holdings Inc. now owns 168,011 shares of the financial services provider's stock valued at $239,000 after acquiring an additional 167,041 shares during the period. Fifth Third Bancorp purchased a new position in Loop Industries during the 1st quarter valued at about $215,000. Citadel Advisors LLC lifted its position in Loop Industries by 564.3% during the 3rd quarter. Citadel Advisors LLC now owns 44,536 shares of the financial services provider's stock valued at $66,000 after acquiring an additional 54,129 shares during the period. Finally, Susquehanna International Group LLP purchased a new position in Loop Industries during the 3rd quarter valued at about $49,000. 4.89% of the stock is owned by hedge funds and other institutional investors.

About Loop Industries

Loop Industries NASDAQ: LOOP is a technology innovator in the sustainable plastics sector. The company has developed a proprietary depolymerization process that breaks down end-of-life polyethylene terephthalate (PET) plastic and polyester fiber into their base molecules. These purified monomers are then repolymerized into virgin-quality PET resin suitable for new packaging applications, creating a closed-loop recycling solution that addresses global plastic waste challenges.

With its headquarters in Terrebonne, Quebec, Loop Industries operates pilot and demonstration facilities to validate and refine its technology.

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