Local Bounti (NYSE:LOCL) Announces Quarterly Earnings Results

Local Bounti (NYSE:LOCL) announced its quarterly earnings results on Monday. The company reported ($4.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.89) by ($0.32), Zacks reports. Local Bounti had a negative return on equity of 1,095.76% and a negative net margin of 427.08%.

Local Bounti Stock Performance

LOCL stock traded up $0.06 during midday trading on Monday, hitting $2.08. 4,828 shares of the company’s stock were exchanged, compared to its average volume of 10,975. Local Bounti has a one year low of $1.18 and a one year high of $3.33. The stock’s fifty day moving average price is $2.19 and its 200-day moving average price is $2.18. The company has a market cap of $17.96 million, a PE ratio of -0.12 and a beta of 2.20.

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.