Loop Industries (NASDAQ:LOOP)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a report released on Friday, AnalystRatings.com reports. They presently have a $12.00 price target on the financial services provider’s stock. HC Wainwright’s price target suggests a potential downside of 0.99% from the stock’s previous close.
The analysts wrote, “In addition to the Spartanburg facility, we expect the company to build at least one more JV facility, and at least two greenfield Waste-to-Resin (WtR) facilities, within the next three to five years.””
Separately, ValuEngine upgraded shares of Zumiez from a “sell” rating to a “hold” rating in a research note on Saturday, June 22nd.
Loop Industries stock opened at $12.12 on Friday. The business’s 50-day moving average price is $9.37. Loop Industries has a fifty-two week low of $5.69 and a fifty-two week high of $14.45. The company has a current ratio of 1.16, a quick ratio of 0.78 and a debt-to-equity ratio of 0.13.
Loop Industries (NASDAQ:LOOP) last announced its quarterly earnings results on Tuesday, May 7th. The financial services provider reported ($0.09) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.09). Research analysts expect that Loop Industries will post -0.4 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Handelsinvest Investeringsforvaltning acquired a new position in Loop Industries in the 1st quarter valued at about $79,000. Bank of New York Mellon Corp acquired a new position in Loop Industries in the 4th quarter valued at about $105,000. Northern Trust Corp acquired a new position in Loop Industries in the 4th quarter valued at about $105,000. Handelsbanken Fonder AB acquired a new position in Loop Industries in the 1st quarter valued at about $158,000. Finally, BlackRock Inc. grew its stake in Loop Industries by 5.2% in the 4th quarter. BlackRock Inc. now owns 23,804 shares of the financial services provider’s stock valued at $185,000 after buying an additional 1,166 shares during the last quarter. Institutional investors and hedge funds own 5.52% of the company’s stock.
About Loop Industries
Loop Industries, Inc focuses on depolymerizing waste polyethylene terephthalate (PET) plastics and polyester fibers into base building blocks. It re-polymerized monomers into virgin-quality PET plastic for use in food-grade plastic packaging, such as water and soda bottles, as well as polyester fibers for textile applications.
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