Loop Industries (NASDAQ:LOOP) Stock Price Passes Above 200-Day Moving Average - Here's What Happened

Loop Industries, Inc. (NASDAQ:LOOP - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.29 and traded as high as $1.33. Loop Industries shares last traded at $1.33, with a volume of 37,773 shares traded.Get Loop Industries alerts:Loop Industries Trading Up 4.7%The firm has a 50 day simple moving average of $1.35 and a 200 day simple moving average of $1.29. The firm has a market capitalization of $64.29 million, a PE ratio of -22.17 and a beta of 1.60. Institutional Trading of Loop IndustriesInstitutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd purchased a new stake in Loop Industries during the 4th quarter valued at $32,000. Jane Street Group LLC purchased a new stake in Loop Industries during the 2nd quarter valued at $39,000. Susquehanna International Group LLP purchased a new stake in Loop Industries during the 3rd quarter valued at $49,000. Citadel Advisors LLC boosted its stake in Loop Industries by 564.3% during the 3rd quarter. Citadel Advisors LLC now owns 44,536 shares of the financial services provider's stock valued at $66,000 after purchasing an additional 54,129 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Loop Industries by 40.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 74,289 shares of the financial services provider's stock valued at $74,000 after purchasing an additional 21,502 shares during the last quarter. 4.89% of the stock is currently owned by hedge funds and other institutional investors. About Loop Industries (Get Free Report)Loop Industries NASDAQ: LOOP is a technology innovator in the sustainable plastics sector. The company has developed a proprietary depolymerization process that breaks down end-of-life polyethylene terephthalate (PET) plastic and polyester fiber into their base molecules. These purified monomers are then repolymerized into virgin-quality PET resin suitable for new packaging applications, creating a closed-loop recycling solution that addresses global plastic waste challenges. With its headquarters in Terrebonne, Quebec, Loop Industries operates pilot and demonstration facilities to validate and refine its technology.See AlsoFive stocks we like better than Loop IndustriesThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Loop Industries Right Now?Before you consider Loop Industries, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Loop Industries wasn't on the list.While Loop Industries currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here