Local Bounti (LOCL) Set to Announce Earnings on Monday

Local Bounti (NYSE:LOCL – Get Rating) will release its earnings data after the market closes on Monday, May 9th. Analysts expect Local Bounti to post earnings of ($0.12) per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

LOCL opened at $7.00 on Monday. Local Bounti has a 52-week low of $4.40 and a 52-week high of $12.87. The stock’s 50 day simple moving average is $7.10. The company has a quick ratio of 5.82, a current ratio of 5.87 and a debt-to-equity ratio of 0.11.

LOCL has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Local Bounti in a research report on Tuesday, January 4th. They set a “buy” rating and a $9.00 price target for the company. Zacks Investment Research lowered Local Bounti from a “buy” rating to a “hold” rating in a research note on Thursday, April 7th. Finally, Morgan Stanley began coverage on Local Bounti in a research report on Wednesday, April 20th. They set an “equal weight” rating and a $8.50 price target on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $8.80.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Allianz Asset Management GmbH bought a new stake in Local Bounti in the fourth quarter valued at about $581,000. Penserra Capital Management LLC bought a new stake in shares of Local Bounti in the 4th quarter valued at approximately $169,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Local Bounti during the 4th quarter valued at approximately $103,000. 67.70% of the stock is currently owned by institutional investors.

About Local Bounti (Get Rating)

Local Bounti Corporation grows fresh greens and herbs 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.

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