Local Bounti (NYSE:LOCL) Trading Up 4.7%

Local Bounti Co. (NYSE:LOCL) shares traded up 4.7% on Monday . The company traded as high as $2.61 and last traded at $2.61. 6,012 shares changed hands during trading, a decline of 52% from the average session volume of 12,535 shares. The stock had previously closed at $2.49.

Local Bounti Price Performance

The company has a current ratio of 0.84, a quick ratio of 0.71 and a debt-to-equity ratio of 18.20. The stock has a 50 day simple moving average of $2.62 and a 200-day simple moving average of $2.50. The firm has a market cap of $25.74 million, a PE ratio of -0.20 and a beta of 2.66.

Local Bounti (NYSE:LOCL) last announced its quarterly earnings data on Wednesday, March 27th. The company reported ($8.10) earnings per share (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 company had revenue of $6.87 million for the quarter, compared to analysts’ expectations of $7.40 million. Equities analysts anticipate that Local Bounti Co. will post -10.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Local Bounti

An institutional investor recently raised its position in Local Bounti stock. BNP Paribas Asset Management Holding S.A. raised its holdings in shares of Local Bounti Co. (NYSE:LOCL) by 65.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 2.40% of Local Bounti worth $411,000 as of its most recent filing with the Securities & Exchange Commission. 28.01% of the stock is currently owned by hedge funds and other institutional investors.

Local Bounti Company Profile

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.