Local Bounti Co. (NYSE:LOCL) Short Interest Update

Local Bounti Co. (NYSE:LOCL) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 66,300 shares, an increase of 20.5% from the March 31st total of 55,000 shares. Based on an average trading volume of 34,800 shares, the days-to-cover ratio is presently 1.9 days. Currently, 1.6% of the shares of the company are sold short.

Local Bounti Price Performance

Shares of Local Bounti stock opened at $2.46 on Monday. Local Bounti has a 1-year low of $1.18 and a 1-year high of $5.75. The business’s fifty day moving average price is $2.58 and its two-hundred day moving average price is $2.27. The company has a market capitalization of $26.11 million, a P/E ratio of -0.14 and a beta of 2.14.

Local Bounti (NYSE:LOCL) last posted its quarterly earnings data on Monday, March 31st. The company reported ($4.21) earnings per share for the quarter, missing the consensus estimate of ($3.89) by ($0.32). The company had revenue of $10.07 million during the quarter, compared to analyst estimates of $10.95 million. Local Bounti had a negative return on equity of 1,095.76% and a negative net margin of 427.08%. During the same period in the previous year, the company earned ($8.10) EPS. On average, research analysts expect that Local Bounti will post -13.81 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Charles R. Schwab purchased 1,700,723 shares of the company’s stock in a transaction on Monday, March 31st. The shares were bought at an average price of $2.00 per share, for a total transaction of $3,401,446.00. Following the completion of the purchase, the insider now owns 1,700,723 shares of the company’s stock, valued at $3,401,446. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles R. Jr. Schwab acquired 70,863 shares of Local Bounti stock in a transaction dated Monday, March 31st. The shares were acquired at an average price of $2.00 per share, with a total value of $141,726.00. Following the completion of the transaction, the director now owns 70,863 shares of the company’s stock, valued at approximately $141,726. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 38.10% of the company’s stock.

Institutional Trading of Local Bounti

An institutional investor recently bought a new position in Local Bounti stock. Walleye Trading LLC bought a new stake in shares of Local Bounti Co. (NYSE:LOCL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 24,001 shares of the company’s stock, valued at approximately $50,000. Walleye Trading LLC owned about 0.28% of Local Bounti as of its most recent SEC filing. 28.01% of the stock is currently owned by institutional investors.

About Local Bounti

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.