Loop Industries (NASDAQ:LOOP) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Shares of Loop Industries, Inc. (NASDAQ:LOOP) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.21 and traded as high as $1.38. Loop Industries shares last traded at $1.26, with a volume of 155,949 shares trading hands.

Loop Industries Stock Performance

The stock’s 50-day moving average price is $1.27 and its 200 day moving average price is $1.21. The company has a quick ratio of 3.48, a current ratio of 3.50 and a debt-to-equity ratio of 7.56. The company has a market cap of $60.13 million, a P/E ratio of -3.94 and a beta of 1.78.

Loop Industries (NASDAQ:LOOP) last posted its earnings results on Thursday, May 29th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.23. The business had revenue of $10.81 million for the quarter, compared to analyst estimates of $0.03 million. Loop Industries had a negative net margin of 139.52% and a negative return on equity of 354.97%. As a group, research analysts expect that Loop Industries, Inc. will post -0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Loop Industries

A number of hedge funds have recently bought and sold shares of LOOP. CacheTech Inc. acquired a new position in shares of Loop Industries during the 4th quarter worth about $30,000. Virtu Financial LLC acquired a new stake in Loop Industries in the 4th quarter valued at approximately $33,000. Millennium Management LLC acquired a new stake in Loop Industries in the 4th quarter valued at approximately $41,000. 4WEALTH Advisors Inc. bought a new position in Loop Industries in the 4th quarter worth approximately $60,000. Finally, Towneley Capital Management Inc DE acquired a new position in shares of Loop Industries during the first quarter worth approximately $78,000. 4.89% of the stock is currently owned by institutional investors.

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.