Balboa Wealth Partners Boosts Stake in Loop Industries, Inc. (NASDAQ:LOOP)

Balboa Wealth Partners grew its holdings in shares of Loop Industries, Inc. (NASDAQ:LOOP) by 24.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,575 shares of the financial services provider’s stock after acquiring an additional 9,880 shares during the period. Balboa Wealth Partners’ holdings in Loop Industries were worth $93,000 as of its most recent SEC filing.

Wall Street Analyst Weigh In

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

Loop Industries Price Performance

Shares of LOOP opened at $1.25 on Friday. Loop Industries, Inc. has a 52 week low of $1.17 and a 52 week high of $4.70. The company has a current ratio of 0.48, a quick ratio of 0.47 and a debt-to-equity ratio of 0.93. The firm has a market cap of $59.53 million, a price-to-earnings ratio of -3.13 and a beta of 1.52. The stock has a 50 day moving average of $1.53 and a 200-day moving average of $1.92.

Loop Industries (NASDAQ:LOOP) last issued its earnings results on Tuesday, October 15th. The financial services provider reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. Loop Industries had a negative net margin of 19,364.00% and a negative return on equity of 164.29%. The company had revenue of $0.02 million for the quarter. As a group, analysts forecast that Loop Industries, Inc. will post -0.31 EPS for the current year.

Loop Industries 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.