Loop Industries Inc. (NASDAQ:LOOP) traded at a new 52-week high today of $14.74. This new high was reached on above average trading volume as 968,000 shares traded hands, while the average 30-day volume is approximately 138,000 shares.
Loop Industries Inc is a technology and licensing company whose mission is to accelerate the world’s shift toward sustainable plastic and away from dependence on fossil fuels. The company owns patented and proprietary technology that depolymerizes no and low value waste PET plastic and polyester fiber, including plastic bottles and packaging, carpet and polyester textile of any color, transparency or condition and even ocean plastics that have been degraded by the sun and salt, to its base building blocks (monomers). Its monomers are filtered, purified and repolymerized to create virgin-quality Loop branded PET plastic resin and polyester fiber suitable for use in food-grade packaging to be sold to consumer goods companies to help them meet their sustainability objectives.
In the past 52 weeks, shares of Loop Industries Inc. have traded between a low of $5.70 and a high of $14.74 and is now at $14.19, which is 149% above that low price.
Loop Industries Inc. (NASDAQ:LOOP) is currently priced 3.3% above its average consensus analyst price target of $13.72.
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