Local Bounti Corporation (NYSE:LOCL) Short Interest Update

Local Bounti Corporation (NYSE:LOCL) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totaling 67,435 shares, a decrease of 25.0% from the December 15th total of 89,914 shares. Based on an average daily volume of 15,006 shares, the short-interest ratio is presently 4.5 days. Approximately 0.4% of the company’s shares are short sold. Approximately 0.4% of the company’s shares are short sold. Based on an average daily volume of 15,006 shares, the short-interest ratio is presently 4.5 days.

Local Bounti Stock Performance

Shares of NYSE LOCL traded down $0.06 during trading on Friday, reaching $2.20. The stock had a trading volume of 10,355 shares, compared to its average volume of 12,962. Local Bounti has a one year low of $1.89 and a one year high of $5.75. The firm’s 50 day moving average price is $2.38 and its two-hundred day moving average price is $2.63. The stock has a market cap of $48.99 million, a PE ratio of -0.19 and a beta of 2.10.

Local Bounti (NYSE:LOCL) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($1.18) earnings per share for the quarter, topping the consensus estimate of ($1.42) by $0.24. The business had revenue of $12.20 million for the quarter, compared to analyst estimates of $12.60 million. During the same quarter last year, the company earned ($4.01) EPS. On average, research analysts expect that Local Bounti will post -13.81 earnings per share for the current year.

Hedge Funds Weigh In On Local Bounti

An institutional investor recently bought a new position in Local Bounti stock. Outfitters Financial LLC bought a new stake in Local Bounti Corporation (NYSE:LOCL) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 15,192 shares of the company’s stock, valued at approximately $45,000. Outfitters Financial LLC owned 0.07% of Local Bounti at the end of the most recent reporting period. Hedge funds and other institutional investors own 28.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Local Bounti in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Local Bounti presently has an average rating of “Sell”.

Local Bounti Company Profile

Local Bounti Inc is a technology-driven indoor farming company that cultivates non-GMO leafy greens, microgreens and culinary herbs in controlled environment agriculture (CEA) facilities. By leveraging its proprietary Hybrid Growing System, the company maintains precise control over lighting, temperature and nutrient delivery, enabling year-round production of high-quality produce free from pesticides and seasonality constraints.

Headquartered in Montana, Local Bounti operates multiple cultivation centers across the United States, each designed to maximize water efficiency and minimize land use.