Loop Industries (NASDAQ:LOOP) Issues Earnings Results, Beats Expectations By $0.02 EPS

Loop Industries (NASDAQ:LOOP) announced its quarterly earnings results on Tuesday. The financial services provider reported ($0.07) earnings per share (EPS) for the quarter, beating 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 Price Performance

Shares of NASDAQ LOOP traded down $0.06 during mid-day trading on Tuesday, hitting $1.19. 40,772 shares of the stock traded hands, compared to its average volume of 106,934. The company has a market cap of $56.67 million, a PE ratio of -2.97 and a beta of 1.57. Loop Industries has a twelve month low of $1.13 and a twelve month 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. The firm has a 50 day simple moving average of $1.32 and a two-hundred day simple moving average of $1.55.

Insider Transactions at Loop Industries

In other news, CEO Daniel Solomita sold 61,278 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $1.56, for a total value of $95,593.68. Following the sale, the chief executive officer now directly owns 548,722 shares of the company’s stock, valued at approximately $856,006.32. This represents a 10.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 49.80% of the company’s stock.

Analysts Set New Price Targets

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

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.