Kathleen Valiasek Sells 118,720 Shares of Local Bounti (NYSE:LOCL) Stock

Local Bounti Corporation (NYSE:LOCL) CEO Kathleen Valiasek sold 118,720 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $1.30, for a total value of $154,336.00. Following the transaction, the chief executive officer owned 1,524,860 shares of the company’s stock, valued at approximately $1,982,318. The trade was a 7.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Local Bounti Trading Down 2.3%

Shares of NYSE:LOCL traded down $0.03 during mid-day trading on Thursday, reaching $1.27. The stock had a trading volume of 177,682 shares, compared to its average volume of 725,474. The company has a market cap of $28.96 million, a P/E ratio of -0.34 and a beta of 2.71. The business’s 50 day moving average price is $1.71 and its 200 day moving average price is $1.76. Local Bounti Corporation has a 1 year low of $0.98 and a 1 year high of $4.00.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Local Bounti from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Walleye Capital LLC purchased a new position in shares of Local Bounti in the 4th quarter worth approximately $691,000. Walleye Trading LLC acquired a new stake in Local Bounti in the fourth quarter valued at approximately $50,000. Schwarz Dygos Wheeler Investment Advisors LLC purchased a new position in Local Bounti in the fourth quarter worth $121,000. Finally, Outfitters Financial LLC grew its holdings in Local Bounti by 99.4% in the fourth quarter. Outfitters Financial LLC now owns 30,291 shares of the company’s stock worth $65,000 after purchasing an additional 15,099 shares during the last quarter. Institutional investors own 28.01% of the company’s stock.

About Local Bounti

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.