Local Bounti Corporation (NYSE:LOCL – Get Free Report) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 86,573 shares, an increase of 46.7% from the August 31st total of 59,002 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average daily volume of 59,581 shares, the days-to-cover ratio is currently 1.5 days.
Local Bounti Price Performance
Shares of LOCL traded down $0.02 during mid-day trading on Thursday, reaching $1.07. 12,852 shares of the company’s stock traded hands, compared to its average volume of 39,855. The stock’s 50-day moving average is $1.08 and its two-hundred day moving average is $1.37. Local Bounti has a 12 month low of $0.95 and a 12 month high of $4.00. The stock has a market cap of $24.95 million, a P/E ratio of -0.39 and a beta of 2.81.
Local Bounti (NYSE:LOCL – Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.18). The business had revenue of $13.85 million during the quarter, compared to the consensus estimate of $22.00 million.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Analysis on LOCL
Local Bounti Company Profile
Local Bounti Corporation (NYSE: LOCL) was a controlled-environment agriculture company focused on growing fresh produce indoors. The company used hydroponic and vertical-farming methods, including its proprietary Stack & Flow Technology, to cultivate crops in climate-controlled facilities throughout the year.
Its product portfolio primarily included leafy greens, lettuce and fresh herbs marketed under the Local Bounti brand. The company supplied produce to grocery retailers, foodservice distributors and other commercial customers, emphasizing locally grown products with consistent availability and quality.
Founded in 2018 and headquartered in Hamilton, Montana, Local Bounti developed and operated indoor growing facilities serving customers in multiple U.S.
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