Local Bounti Corporation (NYSE:LOCL) Stock Short Interest Climbs 46.7%

Local Bounti Corporation (NYSE:LOCL) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 86,573 shares, a growth of 46.7% from the August 31st total of 59,002 shares. Based on an average daily volume of 59,581 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.5% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Local Bounti from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, September 16th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Local Bounti has an average rating of “Sell”.

Local Bounti Trading Down 2.1%

LOCL traded down $0.02 during trading hours on Thursday, hitting $1.07. The company’s stock had a trading volume of 12,852 shares, compared to its average volume of 39,855. The business’s 50-day moving average price is $1.08 and its 200-day moving average price is $1.37. Local Bounti has a 12 month low of $0.95 and a 12 month high of $4.00. The stock has a market cap of $24.95 million, a price-to-earnings ratio of -0.39 and a beta of 2.81.

Local Bounti (NYSE:LOCL) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.18). The company had revenue of $13.85 million for the quarter, compared to the consensus estimate of $22.00 million.

About Local Bounti

Local Bounti Corporation (NYSE: LOCL) was a controlled-environment agriculture company focused on growing fresh produce indoors. The company used hydroponic and vertical-farming methods, including its proprietary Stack & Flow Technology, to cultivate crops in climate-controlled facilities throughout the year.

Its product portfolio primarily included leafy greens, lettuce and fresh herbs marketed under the Local Bounti brand. The company supplied produce to grocery retailers, foodservice distributors and other commercial customers, emphasizing locally grown products with consistent availability and quality.

Founded in 2018 and headquartered in Hamilton, Montana, Local Bounti developed and operated indoor growing facilities serving customers in multiple U.S.