-$0.12 EPS Expected for Local Bounti Co. (NYSE:LOCL) This Quarter

Equities analysts expect that Local Bounti Co. (NYSE:LOCLGet Rating) will post earnings of ($0.12) per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Local Bounti’s earnings, with estimates ranging from ($0.14) to ($0.10). The business is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Local Bounti will report full year earnings of ($0.47) per share for the current year, with EPS estimates ranging from ($0.51) to ($0.42). For the next fiscal year, analysts forecast that the company will report earnings of ($0.40) per share, with EPS estimates ranging from ($0.56) to ($0.22). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Local Bounti.

Several equities analysts have recently issued reports on LOCL shares. Roth Capital initiated coverage on Local Bounti in a research note on Tuesday, December 21st. They issued a “buy” rating and a $8.00 price objective for the company. Deutsche Bank Aktiengesellschaft initiated coverage on Local Bounti in a research note on Tuesday, January 4th. They set a “buy” rating and a $9.00 target price for the company. Oppenheimer initiated coverage on Local Bounti in a research report on Tuesday, December 21st. They set an “outperform” rating and a $11.00 price target on the stock. Finally, Zacks Investment Research lowered Local Bounti from a “buy” rating to a “hold” rating in a research report on Thursday, April 7th.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Traynor Capital Management Inc. acquired a new position in shares of Local Bounti in the 4th quarter valued at about $77,000. Pinnacle Associates Ltd. acquired a new position in shares of Local Bounti in the 4th quarter valued at about $387,000. Monashee Investment Management LLC acquired a new position in Local Bounti during the 4th quarter valued at about $2,580,000. Allianz Asset Management GmbH acquired a new position in Local Bounti during the 4th quarter valued at about $581,000. Finally, Goldman Sachs Group Inc. acquired a new position in Local Bounti during the 4th quarter valued at about $103,000. 89.85% of the stock is owned by institutional investors.

Shares of NYSE:LOCL traded up $0.15 during midday trading on Thursday, reaching $7.59. 421 shares of the company’s stock were exchanged, compared to its average volume of 235,200. The stock has a 50 day moving average price of $6.40. The company has a current ratio of 5.87, a quick ratio of 5.82 and a debt-to-equity ratio of 0.11. Local Bounti has a fifty-two week low of $4.40 and a fifty-two week high of $12.87.

Local Bounti Company Profile (Get Rating)

Local Bounti Corporation grows fresh greens and herbs. It produces lettuce, herbs, and loose-leaf lettuce. The company was incorporated in 2018 and is headquartered in Hamilton, Montana.

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