Local Bounti (NYSE:LOCL) Trading Up 4.7%

Local Bounti Co. (NYSE:LOCL)’s share price was up 4.7% during mid-day trading on Monday . The company traded as high as $2.61 and last traded at $2.61. Approximately 6,012 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 12,535 shares. The stock had previously closed at $2.49.

Local Bounti Stock Performance

The stock’s 50-day moving average price is $2.62 and its 200-day moving average price is $2.50. The company has a market capitalization of $25.74 million, a price-to-earnings ratio of -0.20 and a beta of 2.66. The company has a debt-to-equity ratio of 18.20, a quick ratio of 0.71 and a current ratio of 0.84.

Local Bounti (NYSE:LOCL) last issued its quarterly earnings data on Wednesday, March 27th. The company reported ($8.10) EPS for the quarter, missing analysts’ consensus estimates of ($3.18) by ($4.92). Local Bounti had a negative net margin of 450.03% and a negative return on equity of 167.86%. The business had revenue of $6.87 million during the quarter, compared to analyst estimates of $7.40 million. As a group, equities research analysts expect that Local Bounti Co. will post -10.29 earnings per share for the current year.

Institutional Trading of Local Bounti

A hedge fund recently raised its stake in Local Bounti stock. BNP Paribas Asset Management Holding S.A. grew its holdings in shares of Local Bounti Co. (NYSE:LOCL) by 65.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 198,329 shares of the company’s stock after purchasing an additional 78,205 shares during the quarter. BNP Paribas Asset Management Holding S.A. owned approximately 2.40% of Local Bounti worth $411,000 at the end of the most recent quarter. 28.01% of the stock is currently owned by institutional investors.

About Local Bounti

Local Bounti Corporation grows and packs fresh greens in the United States. It produces lettuce, herbs, and loose-leaf lettuce. The company sells its products to food retailers and food service distributors. Local Bounti Corporation was founded in 2018 and is headquartered in Hamilton, Montana.