Short Interest in Local Bounti Corporation (NYSE:LOCL) Increases By 77.3%
by Jessica Moore · The Cerbat GemLocal Bounti Corporation (NYSE:LOCL – Get Free Report) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totaling 89,914 shares, a growth of 77.3% from the November 30th total of 50,718 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average trading volume of 21,923 shares, the short-interest ratio is currently 4.1 days. Based on an average trading volume of 21,923 shares, the short-interest ratio is currently 4.1 days. Approximately 0.5% of the shares of the company are sold short.
Local Bounti Stock Down 0.7%
NYSE LOCL opened at $2.19 on Friday. The stock has a market capitalization of $48.66 million, a P/E ratio of -0.19 and a beta of 2.09. Local Bounti has a 52-week low of $1.84 and a 52-week high of $5.75. The firm has a 50-day moving average price of $2.55 and a 200 day moving average price of $2.63.
Local Bounti (NYSE:LOCL – Get Free Report) last released its earnings results on Wednesday, November 12th. The company reported ($1.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.42) by $0.24. The business had revenue of $12.20 million for the quarter, compared to analyst estimates of $12.60 million. During the same quarter in the previous year, the firm posted ($4.01) EPS. On average, equities research analysts expect that Local Bounti will post -13.81 earnings per share for the current fiscal year.
Analyst Ratings Changes
Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Local Bounti in a research note on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Local Bounti presently has a consensus rating of “Sell”.
Get Our Latest Analysis on Local Bounti
Institutional Investors Weigh In On Local Bounti
A hedge fund recently raised its stake in Local Bounti stock. BBR Partners LLC increased its stake in Local Bounti Corporation (NYSE:LOCL – Free Report) by 564.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 194,696 shares of the company’s stock after purchasing an additional 165,403 shares during the quarter. BBR Partners LLC owned 1.78% of Local Bounti worth $456,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 28.01% of the company’s stock.
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.