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

Key Points

• Price breakout: Loop Industries' stock climbed above its 200-day moving average of $1.29 on Thursday, trading as high as $1.33 (last trade $1.33) on volume of 37,773 shares and was up about 4.7%.
• Institutional activity and fundamentals: The company has a $64.29 million market cap, a negative P/E of -22.17 and a beta of 1.60; institutional investors have recently adjusted stakes (Citadel boosted its position by 564.3% and Goldman increased holdings), though only 4.89% of the stock is held by institutions.
• Business focus: Loop Industries is a sustainable-plastics technology firm that uses a depolymerization process to convert end-of-life PET into virgin-quality PET resin, operating pilot and demonstration facilities to validate its closed-loop recycling solution.

Loop Industries, Inc. (NASDAQ:LOOP - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.29 and traded as high as $1.33. Loop Industries shares last traded at $1.33, with a volume of 37,773 shares traded.

Loop Industries Trading Up 4.7%

The firm has a 50 day simple moving average of $1.35 and a 200 day simple moving average of $1.29. The firm has a market capitalization of $64.29 million, a PE ratio of -22.17 and a beta of 1.60.

Institutional Trading of Loop Industries

Institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd purchased a new stake in Loop Industries during the 4th quarter valued at $32,000. Jane Street Group LLC purchased a new stake in Loop Industries during the 2nd quarter valued at $39,000. Susquehanna International Group LLP purchased a new stake in Loop Industries during the 3rd quarter valued at $49,000. Citadel Advisors LLC boosted its stake 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 purchasing an additional 54,129 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Loop Industries by 40.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 74,289 shares of the financial services provider's stock valued at $74,000 after purchasing an additional 21,502 shares during the last quarter. 4.89% of the stock is currently 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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