Loop Industries Inc. [LOOP] Is Currently 0.37 below its 200 Period Moving Avg: What Does This Mean?


Loop Industries Inc. [NASDAQ: LOOP] gained 0.37% or 0.02 points to close at $5.48 with a heavy trading volume of 87520 shares. The company report on June 16, 2022 that SK Geo Centric to Participate as Equal Partner in Joint Venture to Build First Infinite Loop(TM) Facility in Europe, Together with Loop Industries and Suez.

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Loop Industries, Inc. (NASDAQ:LOOP) (the “Company” or “Loop”), an innovator in sustainable plastics technology whose mission is to accelerate a circular plastics economy by manufacturing 100% recycled polyethylene terephthalate (“PET”) plastic and polyester, along with SUEZ, a world leader in environmental services, and SK Geo Centric (“SKGC”), a subsidiary of South Korea’s SK Group, one of Asia’s largest conglomerates, today announced that SKGC will become an equal partner in the previously announced partnership between Loop and SUEZ, which was formed to build the first Infinite Loop™ manufacturing facility in Europe.

Photo: Mr. Daniel Solomita, CEO of Loop Industries, Mr. Maximilien Pellegrini, SUEZ’ Executive Committee member in charge of France and Mr. Na Kyung-Soo, CEO of SK Geo Centric.

It opened the trading session at $5.39, the shares rose to $5.78 and dropped to $5.328, the range by which the price of stock traded the whole day. The daily chart for LOOP points out that the company has recorded -55.01% loss over the past six months. However, it is still -25.98% lower than its most recent low trading price.

If we look at the average trading volume of 79.56K shares, LOOP reached to a volume of 87520 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Loop Industries Inc. [LOOP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LOOP shares is $21.10 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LOOP stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

H.C. Wainwright have made an estimate for Loop Industries Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 07, 2021. The new note on the price target was released on January 22, 2021, representing the official price target for Loop Industries Inc. stock. Previously, the target price had yet another raise to $14, while ROTH Capital analysts kept a Buy rating on LOOP stock.

The Average True Range (ATR) for Loop Industries Inc. is set at 0.47 The Price to Book ratio for the last quarter was 5.65, with the Price to Cash per share for the same quarter was set at 0.93.

Trading performance analysis for LOOP stock

Loop Industries Inc. [LOOP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.49. With this latest performance, LOOP shares gained by 2.81% in over the last four-week period, additionally sinking by -55.01% over the last 6 months – not to mention a drop of -57.81% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LOOP stock in for the last two-week period is set at 44.54, with the RSI for the last a single of trading hit 45.33, and the three-weeks RSI is set at 43.61 for Loop Industries Inc. [LOOP]. The present Moving Average for the last 50 days of trading for this stock 6.27, while it was recorded at 5.48 for the last single week of trading, and 9.75 for the last 200 days.

Loop Industries Inc. [LOOP]: A deeper dive into fundamental analysis

Return on Equity for this stock declined to -113.98, with Return on Assets sitting at -87.54.

Loop Industries Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.30 and a Current Ratio set at 5.30.

An analysis of insider ownership at Loop Industries Inc. [LOOP]

There are presently around $32 million, or 13.90% of LOOP stock, in the hands of institutional investors. The top three institutional holders of LOOP stocks are: HANDELSBANKEN FONDER AB with ownership of 2,528,462, which is approximately -0.785% of the company’s market cap and around 0.10% of the total institutional ownership; MILLENNIUM MANAGEMENT LLC, holding 557,187 shares of the stock with an approximate value of $3.05 million in LOOP stocks shares; and HANDELSINVEST INVESTERINGSFORVALTNING, currently with $1.92 million in LOOP stock with ownership of nearly 16.667% of the company’s market capitalization.

Positions in Loop Industries Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 18 institutional holders increased their position in Loop Industries Inc. [NASDAQ:LOOP] by around 776,942 shares. Additionally, 19 investors decreased positions by around 315,067 shares, while 11 investors held positions by with 4,700,033 shares. The mentioned changes placed institutional holdings at 5,792,042 shares, according to the latest SEC report filing. LOOP stock had 7 new institutional investments in for a total of 259,884 shares, while 7 institutional investors sold positions of 137,782 shares during the same period.