Local Bounti (NYSE:LOCL) Shares Down 3.8% – Time to Sell?

Local Bounti Co. (NYSE:LOCL)’s share price was down 3.8% during trading on Wednesday . The company traded as low as $2.65 and last traded at $2.65. Approximately 7,600 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 10,174 shares. The stock had previously closed at $2.75.

Local Bounti Price Performance

The stock has a market cap of $22.49 million, a PE ratio of -0.17 and a beta of 2.53. The company has a 50 day moving average price of $2.55 and a two-hundred day moving average price of $2.72.

Local Bounti (NYSE:LOCL) last announced its earnings results on Tuesday, August 13th. The company reported ($3.00) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.19) by $0.19. The business had revenue of $9.44 million during the quarter, compared to analyst estimates of $11.30 million. Local Bounti had a negative net margin of 441.65% and a negative return on equity of 1,095.76%. During the same period in the previous year, the business earned ($1.35) EPS. As a group, equities analysts predict that Local Bounti Co. will post -11.24 earnings per share for the current fiscal year.

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.