Loop Industries (NASDAQ:LOOP) Posts Earnings Results, Beats Estimates By $0.02 EPS

Loop Industries (NASDAQ:LOOP) posted its earnings results on Tuesday. The financial services provider reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.02, Zacks reports. Loop Industries had a negative return on equity of 164.29% and a negative net margin of 19,364.00%.

Loop Industries Trading Down 10.9 %

Loop Industries stock opened at $1.06 on Thursday. The firm has a fifty day moving average price of $1.31 and a two-hundred day moving average price of $1.54. Loop Industries has a fifty-two week low of $1.05 and a fifty-two week high of $3.85. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.48 and a quick ratio of 0.47.

Analyst Upgrades and Downgrades

Separately, Cormark raised shares of Loop Industries to a “moderate buy” rating in a research report on Monday, September 30th.

Insider Activity

In related news, CEO Daniel Solomita sold 61,278 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $1.56, for a total transaction of $95,593.68. Following the completion of the sale, the chief executive officer now owns 548,722 shares in the company, valued at $856,006.32. This represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 49.80% of the stock is currently owned by company insiders.

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.