Local Bounti Corporation (NYSE:LOCL) Short Interest Update

Local Bounti Corporation (NYSE:LOCL) saw a large growth in short interest in April. As of April 30th, there was short interest totaling 181,502 shares, a growth of 222.5% from the April 15th total of 56,288 shares. Based on an average daily trading volume, of 7,863,959 shares, the days-to-cover ratio is currently 0.0 days. Approximately 1.0% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Local Bounti from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Local Bounti presently has an average rating of “Sell”.

Local Bounti Price Performance

NYSE LOCL traded up $0.40 during trading hours on Thursday, hitting $1.87. The company’s stock had a trading volume of 409,255 shares, compared to its average volume of 4,353,597. Local Bounti has a 12 month low of $0.98 and a 12 month high of $4.00. The company’s 50 day simple moving average is $1.54 and its two-hundred day simple moving average is $2.00. The company has a market cap of $41.96 million, a P/E ratio of -0.50 and a beta of 2.78.

Local Bounti (NYSE:LOCL) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.53) EPS for the quarter, hitting the consensus estimate of ($0.53). The business had revenue of $13.34 million during the quarter, compared to the consensus estimate of $19.00 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Walleye Trading LLC bought a new stake in shares of Local Bounti during the 4th quarter valued at about $50,000. Walleye Capital LLC bought a new position in shares of Local Bounti in the 4th quarter worth approximately $691,000. Schwarz Dygos Wheeler Investment Advisors LLC bought a new position in shares of Local Bounti in the 4th quarter worth approximately $121,000. Finally, Outfitters Financial LLC lifted its stake in shares of Local Bounti by 99.4% in the 4th quarter. Outfitters Financial LLC now owns 30,291 shares of the company’s stock worth $65,000 after purchasing an additional 15,099 shares during the period. 28.01% of the stock is owned by hedge funds and other institutional investors.

About Local Bounti

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.