Local Bounti Co. (NYSE:LOCL) Director Charles R. Jr. Schwab Acquires 70,863 Shares

Local Bounti Co. (NYSE:LOCL) Director Charles R. Jr. Schwab acquired 70,863 shares of the business’s stock in a transaction on Monday, March 31st. The stock was acquired at an average cost of $2.00 per share, for a total transaction of $141,726.00. Following the transaction, the director now directly owns 70,863 shares in the company, valued at $141,726. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Local Bounti Stock Up 8.8 %

Shares of NYSE:LOCL opened at $2.10 on Thursday. The business’s 50 day moving average is $2.19 and its 200 day moving average is $2.18. The stock has a market cap of $18.18 million, a P/E ratio of -0.12 and a beta of 2.20. Local Bounti Co. has a 52-week low of $1.18 and a 52-week high of $3.33.

Local Bounti (NYSE:LOCL) last released its quarterly earnings data on Monday, March 31st. The company reported ($4.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.89) by ($0.32). The business had revenue of $10.07 million during 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 last year, the company earned ($8.10) earnings per share. On average, sell-side analysts anticipate that Local Bounti Co. will post -13.81 EPS for the current fiscal year.

Institutional Trading of Local Bounti

A hedge fund recently bought a new stake in Local Bounti stock. Walleye Trading LLC acquired a new position in shares of Local Bounti Co. (NYSE:LOCL) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 24,001 shares of the company’s stock, valued at approximately $50,000. Walleye Trading LLC owned about 0.28% of Local Bounti at the end of the most recent reporting period. Hedge funds and other institutional investors own 28.01% of the company’s stock.

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.