Local Bounti Corporation (NYSE:LOCL) Short Interest Update

Local Bounti Corporation (NYSE:LOCL) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 67,435 shares, a drop of 25.0% from the December 15th total of 89,914 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily volume of 15,006 shares, the short-interest ratio is presently 4.5 days. Based on an average daily volume of 15,006 shares, the short-interest ratio is presently 4.5 days. Approximately 0.4% of the shares of the company are sold short.

Institutional Investors Weigh In On Local Bounti

An institutional investor recently bought a new position in Local Bounti stock. Outfitters Financial LLC bought a new position in Local Bounti Corporation (NYSE:LOCL) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 15,192 shares of the company’s stock, valued at approximately $45,000. Outfitters Financial LLC owned about 0.07% of Local Bounti at the end of the most recent reporting period. Institutional investors own 28.01% of the company’s stock.

Local Bounti Trading Down 2.7%

NYSE:LOCL traded down $0.06 during mid-day trading on Friday, reaching $2.20. 10,355 shares of the stock were exchanged, compared to its average volume of 12,962. The business has a fifty day moving average price of $2.38 and a 200 day moving average price of $2.63. Local Bounti has a 1-year low of $1.89 and a 1-year high of $5.75. The firm has a market capitalization of $48.99 million, a PE ratio of -0.19 and a beta of 2.10.

Local Bounti (NYSE:LOCL) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($1.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.42) by $0.24. The business had revenue of $12.20 million during the quarter, compared to analyst estimates of $12.60 million. During the same period in the prior year, the firm earned ($4.01) EPS. On average, sell-side analysts forecast that Local Bounti will post -13.81 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated 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 presently has a consensus 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.