Local Bounti (NYSE:LOCL) Posts Quarterly Earnings Results, Misses Estimates By $0.32 EPS

Local Bounti (NYSE:LOCL) posted its earnings results on Monday. The company reported ($4.21) EPS for the quarter, missing the consensus estimate of ($3.89) by ($0.32), Zacks reports. Local Bounti had a negative return on equity of 1,095.76% and a negative net margin of 427.08%. During the same quarter last year, the company earned ($8.10) EPS.

Local Bounti Stock Up 2.7 %

Shares of NYSE:LOCL opened at $2.08 on Tuesday. The business has a fifty day simple moving average of $2.19 and a 200 day simple moving average of $2.18. Local Bounti has a 12-month low of $1.18 and a 12-month high of $3.33. The firm has a market cap of $17.96 million, a P/E ratio of -0.12 and a beta of 2.20.

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.