Local Bounti Corporation (NYSE:LOCL) Short Interest Update

Local Bounti Corporation (NYSE:LOCL) saw a large increase in short interest during the month of April. As of April 30th, there was short interest totaling 181,502 shares, an increase of 222.5% from the April 15th total of 56,288 shares. Approximately 1.0% of the shares of the company are sold short. Based on an average daily trading volume, of 7,863,959 shares, the days-to-cover ratio is presently 0.0 days.

Local Bounti Stock Performance

NYSE:LOCL traded up $0.05 during mid-day trading on Friday, reaching $1.91. 106,689 shares of the company’s stock were exchanged, compared to its average volume of 4,373,369. Local Bounti has a one year low of $0.98 and a one year high of $4.00. The firm has a market capitalization of $42.85 million, a PE ratio of -0.51 and a beta of 2.78. The business’s fifty day simple moving average is $1.55 and its two-hundred day simple moving average is $2.00.

Local Bounti (NYSE:LOCL) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.53) EPS for the quarter, hitting analysts’ consensus estimates of ($0.53). The business had revenue of $13.34 million for the quarter, compared to the consensus estimate of $19.00 million.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Local Bounti from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Local Bounti

Several hedge funds have recently bought and sold shares of LOCL. Walleye Capital LLC bought a new position in Local Bounti in the 4th quarter valued at about $691,000. Schwarz Dygos Wheeler Investment Advisors LLC bought a new position in Local Bounti in the 4th quarter valued at about $121,000. Walleye Trading LLC bought a new position in Local Bounti in the 4th quarter valued at about $50,000. Finally, Outfitters Financial LLC increased its holdings in Local Bounti by 99.4% in the 4th quarter. Outfitters Financial LLC now owns 30,291 shares of the company’s stock valued at $65,000 after buying an additional 15,099 shares during the period. 28.01% of the stock is owned by institutional investors.

About Local Bounti

Local Bounti Inc is a technology-driven indoor farming company that cultivates non-GMO leafy greens, microgreens and culinary herbs in controlled environment agriculture (CEA) facilities. By leveraging its proprietary Hybrid Growing System, the company maintains precise control over lighting, temperature and nutrient delivery, enabling year-round production of high-quality produce free from pesticides and seasonality constraints.

Headquartered in Montana, Local Bounti operates multiple cultivation centers across the United States, each designed to maximize water efficiency and minimize land use.