Insider Buying: Local Bounti Co. (NYSE:LOCL) Director Purchases $141,726.00 in Stock

Local Bounti Co. (NYSE:LOCL) Director Charles R. Jr. Schwab acquired 70,863 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was bought at an average cost of $2.00 per share, for a total transaction of $141,726.00. Following the completion of the purchase, the director now directly owns 70,863 shares in the company, valued at $141,726. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Local Bounti Stock Up 58.8 %

LOCL opened at $4.48 on Friday. The firm has a market capitalization of $38.76 million, a P/E ratio of -0.25 and a beta of 2.20. Local Bounti Co. has a 12-month low of $1.18 and a 12-month high of $4.75. The stock’s 50 day moving average price is $2.24 and its two-hundred day moving average price is $2.20.

Local Bounti (NYSE:LOCL) last announced its quarterly earnings data on Monday, March 31st. The company reported ($4.21) EPS for the quarter, missing analysts’ consensus estimates of ($3.89) by ($0.32). The firm had revenue of $10.07 million during the quarter, compared to the consensus estimate of $10.95 million. Local Bounti had a negative return on equity of 1,095.76% and a negative net margin of 427.08%. During the same quarter in the prior year, the business posted ($8.10) EPS. As a group, analysts anticipate that Local Bounti Co. will post -13.81 earnings per share for the current year.

Hedge Funds Weigh In On Local Bounti

A hedge fund recently bought a new stake in Local Bounti stock. Walleye Trading LLC purchased a new stake in shares of Local Bounti Co. (NYSE:LOCL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 24,001 shares of the company’s stock, valued at approximately $50,000. Walleye Trading LLC owned approximately 0.28% of Local Bounti at the end of the most recent reporting period. Institutional investors and hedge funds own 28.01% of the company’s stock.

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.