Local Bounti Corporation (NYSE:LOCL) Short Interest Update

Local Bounti Corporation (NYSE:LOCL) was the target of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 54,685 shares, a growth of 22.8% from the February 26th total of 44,537 shares. Based on an average daily trading volume, of 29,843 shares, the short-interest ratio is presently 1.8 days. Currently, 0.3% of the shares of the company are sold short.

Local Bounti Price Performance

LOCL traded down $0.02 during trading on Monday, reaching $1.07. 21,565 shares of the company’s stock were exchanged, compared to its average volume of 24,211. Local Bounti has a 1 year low of $0.98 and a 1 year high of $5.75. The company’s fifty day simple moving average is $1.60 and its 200-day simple moving average is $2.26. The stock has a market capitalization of $23.76 million, a P/E ratio of -0.14 and a beta of 2.13.

Local Bounti (NYSE:LOCL) last released its quarterly earnings data on Wednesday, March 25th. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.22. The business had revenue of $12.46 million during the quarter, compared to analysts’ expectations of $15.00 million. Equities analysts forecast that Local Bounti will post -13.81 EPS for the current year.

Institutional Investors Weigh In On Local Bounti

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Walleye Capital LLC acquired a new position in shares of Local Bounti in the 4th quarter valued at about $691,000. Walleye Trading LLC purchased a new stake in shares of Local Bounti in the fourth quarter worth about $50,000. Schwarz Dygos Wheeler Investment Advisors LLC acquired a new stake in Local Bounti during the fourth quarter worth about $121,000. Outfitters Financial LLC grew its holdings in Local Bounti by 99.4% during the fourth quarter. Outfitters Financial LLC now owns 30,291 shares of the company’s stock worth $65,000 after acquiring an additional 15,099 shares during the period. Finally, BBR Partners LLC raised its position in Local Bounti by 564.7% during the second quarter. BBR Partners LLC now owns 194,696 shares of the company’s stock valued at $456,000 after acquiring an additional 165,403 shares in the last quarter. 28.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.