Loop Industries, Inc. (NASDAQ:LOOP) Sees Large Decrease in Short Interest

Loop Industries, Inc. (NASDAQ:LOOP - Get Free Report) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 801,300 shares, a drop of 33.2% from the March 15th total of 1,200,000 shares. Based on an average daily trading volume, of 27,900 shares, the days-to-cover ratio is currently 28.7 days. Approximately 4.3% of the shares of the stock are short sold.

Loop Industries Price Performance

Shares of Loop Industries stock traded up $0.07 during midday trading on Friday, hitting $2.69. 12,338 shares of the company were exchanged, compared to its average volume of 26,706. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.74 and a quick ratio of 6.44. The firm has a market cap of $127.86 million, a P/E ratio of -11.70 and a beta of 1.41. Loop Industries has a 52 week low of $2.59 and a 52 week high of $4.70. The firm has a 50 day simple moving average of $2.94 and a 200-day simple moving average of $3.33.

Loop Industries (NASDAQ:LOOP - Get Free Report) last issued its quarterly earnings data on Tuesday, January 16th. The financial services provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). Loop Industries had a negative net margin of 8,792.50% and a negative return on equity of 80.06%. The business had revenue of $0.03 million during the quarter. Research analysts forecast that Loop Industries will post -0.44 earnings per share for the current year.

Institutional Investors Weigh In On Loop Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. Williams & Novak LLC acquired a new stake in shares of Loop Industries in the 4th quarter valued at $38,000. Dynamic Advisor Solutions LLC acquired a new stake in shares of Loop Industries in the 3rd quarter valued at $36,000. Richelieu Gestion SA grew its stake in shares of Loop Industries by 15.3% during the fourth quarter. Richelieu Gestion SA now owns 45,722 shares of the financial services provider's stock worth $173,000 after purchasing an additional 6,059 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Loop Industries during the second quarter worth $197,000. Finally, Jane Street Group LLC acquired a new stake in shares of Loop Industries during the second quarter worth $193,000. 4.89% of the stock is owned by institutional investors and hedge funds.

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.

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