Local Bounti Corporation (NYSE:LOCL) Short Interest Down 15.1% in February

Local Bounti Corporation (NYSE:LOCL) was the recipient of a significant decrease in short interest during the month of February. As of February 27th, there was short interest totaling 44,537 shares, a decrease of 15.1% from the February 12th total of 52,479 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 19,129 shares, the short-interest ratio is currently 2.3 days. Based on an average daily trading volume, of 19,129 shares, the short-interest ratio is currently 2.3 days. Currently, 0.2% of the shares of the company are sold short.

Local Bounti Stock Up 8.8%

Shares of LOCL stock traded up $0.09 on Wednesday, hitting $1.12. The company had a trading volume of 20,078 shares, compared to its average volume of 18,340. Local Bounti has a twelve month low of $0.98 and a twelve month high of $5.75. The firm has a market cap of $24.97 million, a P/E ratio of -0.10 and a beta of 2.13. The company has a 50-day moving average price of $1.80 and a 200-day moving average price of $2.33.

Hedge Funds Weigh In On Local Bounti

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

Wall Street Analysts Forecast Growth

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

Local Bounti Company Profile

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.