Local Bounti Corporation (NYSE:LOCL) Short Interest Update

Local Bounti Corporation (NYSE:LOCL) was the target of a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 67,435 shares, a decline of 25.0% from the December 15th total of 89,914 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average trading volume of 15,006 shares, the days-to-cover ratio is currently 4.5 days. Based on an average trading volume of 15,006 shares, the days-to-cover ratio is currently 4.5 days. Currently, 0.4% of the shares of the stock are sold short.

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, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Local Bounti Trading Down 2.7%

Shares of Local Bounti stock traded down $0.06 during mid-day trading on Monday, reaching $2.20. 10,355 shares of the stock were exchanged, compared to its average volume of 13,151. Local Bounti has a fifty-two week low of $1.89 and a fifty-two week high of $5.75. The company has a market cap of $48.99 million, a price-to-earnings ratio of -0.19 and a beta of 2.10. The firm has a 50-day simple moving average of $2.37 and a 200 day simple moving average of $2.62.

Local Bounti (NYSE:LOCL) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($1.18) EPS for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.24. The firm had revenue of $12.20 million during the quarter, compared to analyst estimates of $12.60 million. During the same quarter last year, the firm earned ($4.01) earnings per share. On average, research analysts predict that Local Bounti will post -13.81 EPS for the current fiscal year.

Hedge Funds 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 shares of Local Bounti Corporation (NYSE:LOCL) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 15,192 shares of the company’s stock, valued at approximately $45,000. Outfitters Financial LLC owned approximately 0.07% of Local Bounti at the end of the most recent quarter. Hedge funds and other institutional investors own 28.01% of the company’s stock.

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.