Local Bounti Co. (NYSE:LOCL - Get Free Report) Director Charles R. Jr. Schwab bought 70,863 shares of Local Bounti stock in a transaction that occurred on Monday, March 31st. The shares were acquired at an average cost of $2.00 per share, for a total transaction of $141,726.00. Following the completion of the transaction, the director now directly owns 70,863 shares in the company, valued at $141,726. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Local Bounti Stock Performance
Shares of LOCL stock opened at $2.10 on Thursday. Local Bounti Co. has a fifty-two week low of $1.18 and a fifty-two week high of $3.33. The firm has a market capitalization of $18.18 million, a price-to-earnings ratio of -0.12 and a beta of 2.20. The stock's 50-day simple moving average is $2.19 and its 200-day simple moving average is $2.18.
Local Bounti (NYSE:LOCL - Get Free Report) last released its earnings results 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 for the quarter, compared to analysts' expectations 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 prior year, the firm posted ($8.10) EPS. As a group, equities analysts forecast that Local Bounti Co. will post -13.81 earnings per share for the current year.
Hedge Funds Weigh In On Local Bounti
A hedge fund recently bought a new stake in Local Bounti stock. Walleye Trading LLC purchased a new position in shares of Local Bounti Co. (NYSE:LOCL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 24,001 shares of the company's stock, valued at approximately $50,000. Walleye Trading LLC owned 0.28% of Local Bounti as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 28.01% of the company's stock.
About Local Bounti
(
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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.
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