Local Bounti Corporation (NYSE:LOCL) Short Interest Update

Local Bounti Corporation (NYSE:LOCL) was the target of a significant growth in short interest during the month of April. As of April 30th, there was short interest totaling 181,502 shares, a growth of 222.5% from the April 15th total of 56,288 shares. Based on an average trading volume of 7,863,959 shares, the short-interest ratio is currently 0.0 days. Approximately 1.0% of the shares of the stock are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Local Bounti from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. One 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 Up 27.4%

Shares of NYSE:LOCL traded up $0.40 during trading on Thursday, reaching $1.87. 409,255 shares of the company traded hands, compared to its average volume of 4,353,597. The firm has a market capitalization of $41.96 million, a price-to-earnings ratio of -0.50 and a beta of 2.78. Local Bounti has a 52-week low of $0.98 and a 52-week high of $4.00. The business’s fifty day moving average is $1.54 and its 200-day moving average is $2.00.

Local Bounti (NYSE:LOCL) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.53) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.53). The company had revenue of $13.34 million for the quarter, compared to analysts’ expectations of $19.00 million.

Hedge Funds Weigh In On Local Bounti

Institutional investors and hedge funds have recently modified their holdings of the stock. Walleye Trading LLC bought a new position in shares of Local Bounti during the fourth quarter valued at $50,000. Walleye Capital LLC bought a new position in shares of Local Bounti during the fourth quarter valued at $691,000. Schwarz Dygos Wheeler Investment Advisors LLC bought a new position in shares of Local Bounti during the fourth quarter valued at $121,000. Finally, Outfitters Financial LLC increased its holdings in shares of Local Bounti by 99.4% during the fourth quarter. Outfitters Financial LLC now owns 30,291 shares of the company’s stock valued at $65,000 after acquiring an additional 15,099 shares in the last quarter. 28.01% of the stock is currently owned by institutional investors.

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.