Local Bounti (NYSE:LOCL) Stock Price Up 4.7%

Local Bounti Co. (NYSE:LOCL) rose 4.7% during trading on Monday . The company traded as high as $2.61 and last traded at $2.61. Approximately 6,012 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 12,535 shares. The stock had previously closed at $2.49.

Local Bounti Price Performance

The company has a debt-to-equity ratio of 18.20, a current ratio of 0.84 and a quick ratio of 0.71. The stock has a market capitalization of $22.02 million, a price-to-earnings ratio of -0.17 and a beta of 2.66. The stock’s 50 day simple moving average is $2.61 and its 200-day simple moving average is $2.49.

Local Bounti (NYSE:LOCL) last announced its earnings results on Wednesday, March 27th. The company reported ($8.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.18) by ($4.92). Local Bounti had a negative return on equity of 167.86% and a negative net margin of 450.03%. The company had revenue of $6.87 million for the quarter, compared to the consensus estimate of $7.40 million. On average, analysts expect that Local Bounti Co. will post -10.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Local Bounti

An institutional investor recently raised its position in Local Bounti stock. BNP Paribas Asset Management Holding S.A. boosted its holdings in Local Bounti Co. (NYSE:LOCL) by 65.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 198,329 shares of the company’s stock after acquiring an additional 78,205 shares during the quarter. BNP Paribas Asset Management Holding S.A. owned 2.40% of Local Bounti worth $411,000 at the end of the most recent quarter. 28.01% of the stock is owned by hedge funds and other 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.