Brokers Set Expectations for Loop Industries FY2029 Earnings

Loop Industries, Inc. (NASDAQ:LOOP - Free Report) - Cormark issued their FY2029 earnings per share estimates for Loop Industries in a report released on Thursday, January 16th. Cormark analyst N. Boychuk forecasts that the financial services provider will post earnings per share of $0.25 for the year. Cormark has a "Moderate Buy" rating on the stock. The consensus estimate for Loop Industries' current full-year earnings is ($0.31) per share.

Loop Industries (NASDAQ:LOOP - Get Free Report) last issued its quarterly earnings data on Tuesday, January 14th. The financial services provider reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.02. Loop Industries had a negative net margin of 19,364.00% and a negative return on equity of 164.29%.

Loop Industries Trading Up 3.0 %

Shares of NASDAQ LOOP traded up $0.03 during trading on Friday, reaching $1.03. The company had a trading volume of 116,212 shares, compared to its average volume of 4,589,181. Loop Industries has a 12 month low of $0.96 and a 12 month high of $3.84. The company has a quick ratio of 0.47, a current ratio of 0.48 and a debt-to-equity ratio of 0.93. The stock has a market cap of $49.05 million, a P/E ratio of -2.57 and a beta of 1.57. The company's fifty day moving average price is $1.30 and its 200-day moving average price is $1.52.

Insiders Place Their Bets

In other news, CEO Daniel Solomita sold 61,278 shares of Loop Industries stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $1.56, for a total value of $95,593.68. Following the completion of the transaction, the chief executive officer now directly owns 548,722 shares of the company's stock, valued at approximately $856,006.32. This trade represents a 10.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 49.80% of the company's stock.

Institutional Investors Weigh In On Loop Industries

An institutional investor recently raised its position in Loop Industries stock. Geode Capital Management LLC raised its stake in Loop Industries, Inc. (NASDAQ:LOOP - Free Report) by 4.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 250,962 shares of the financial services provider's stock after purchasing an additional 10,933 shares during the period. Geode Capital Management LLC owned 0.53% of Loop Industries worth $462,000 as of its most recent SEC filing. Institutional investors own 4.89% of the company's stock.

About Loop Industries

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.