H.C. Wainwright analyst Amit Dayal maintained a Buy rating on Loop Industries Inc (LOOP) today and set a price target of $12. The company’s shares closed yesterday at $6.90, close to its 52-week low of $5.69.
Dayal commented:
“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.”
According to TipRanks.com, Dayal is a 1-star analyst with an average return of -1.2% and a 47.6% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Advanced Emissions Solutions, Inc., Ballard Power Systems, and Orion Energy Systems.
Loop Industries Inc has an analyst consensus of Moderate Buy, with a price target consensus of $12.
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The company has a one-year high of $13.88 and a one-year low of $5.69. Currently, Loop Industries Inc has an average volume of 59.4K.
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Loop Industries, Inc. engages in the manufacture of purified terephthalic acid and ethylene glycol. It produces chemicals for the polyethylene terephthalate plastic which is found in beverage bottles, consumer packaging, and polyester fiber. The company was founded by Daniel Solomita and is headquartered in Terrebonne, Canada.
