Local Bounti Co. (NYSE:LOCL) Director Sells $10,678.55 in Stock

Local Bounti Co. (NYSE:LOCL) Director Mark Joseph Nelson sold 3,695 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $2.89, for a total transaction of $10,678.55. Following the completion of the sale, the director now directly owns 41,573 shares of the company’s stock, valued at approximately $120,145.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Mark Joseph Nelson also recently made the following trade(s):

• On Monday, April 15th, Mark Joseph Nelson sold 660 shares of Local Bounti stock. The stock was sold at an average price of $2.31, for a total value of $1,524.60.

Local Bounti Trading Up 3.7 %

LOCL opened at $2.80 on Friday. The business has a fifty day moving average of $2.88 and a 200 day moving average of $2.55. The company has a debt-to-equity ratio of 18.20, a quick ratio of 0.64 and a current ratio of 0.80. Local Bounti Co. has a 52-week low of $1.17 and a 52-week high of $6.33.

Local Bounti (NYSE:LOCL) last issued its earnings results on Thursday, May 9th. The company reported ($2.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.76) by ($0.13). The company had revenue of $8.38 million for the quarter, compared to analysts’ expectations of $8.40 million. Local Bounti had a negative net margin of 425.89% and a negative return on equity of 273.85%. During the same period in the prior year, the firm posted ($2.99) earnings per share. As a group, equities analysts predict that Local Bounti Co. will post -12.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Local Bounti

A hedge fund recently raised its stake in Local Bounti stock. BNP Paribas Asset Management Holding S.A. increased its position in Local Bounti Co. (NYSE:LOCL) by 65.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 198,329 shares of the company’s stock after purchasing an additional 78,205 shares during the quarter. BNP Paribas Asset Management Holding S.A. owned approximately 2.40% of Local Bounti worth $411,000 as of its most recent SEC filing. 28.01% of the stock is owned by institutional investors.

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.