Key Highlights:
- Loop Industries (LOOP, Financial) reports a remarkable increase in fourth-quarter revenue, climbing to $10.8 million.
- Wall Street analysts provide optimistic forecasts with significant upside potential for LOOP stock.
- The company achieves net income, pivoting from the previous year's net loss.
Loop Industries (LOOP) demonstrated impressive financial growth in the fourth quarter, with revenue soaring to $10.8 million, a substantial leap from $45,000 in the prior year. This includes an impressive $10.4 million derived from licensing revenue alone. Consequently, the company reported a net income of $6,880, effectively reversing a net loss of $5,090 reported a year ago.
Wall Street Analysts' Insights
Analyst projections for Loop Industries Inc (LOOP, Financial) reveal promising prospects. The one-year price targets proposed by 4 analysts suggest an average target price of $3.95. The projections range from a low estimate of $3.00 to a high estimate of $5.80, indicating a potential upside of 276.19% from the current price of $1.05. Investors seeking detailed estimate data can access the information on the Loop Industries Inc (LOOP) Forecast page.
Furthermore, feedback from 3 brokerage firms results in an average brokerage recommendation of 1.7 for Loop Industries Inc (LOOP, Financial), signaling an "Outperform" status. It's important to note that this rating scale ranges from 1 to 5, where 1 stands for Strong Buy and 5 represents Sell.
