Local Bounti (NYSE:LOCL) Posts Earnings Results, Misses Expectations By $0.32 EPS

Local Bounti (NYSE:LOCL) issued its quarterly earnings results on Monday. The company reported ($4.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.89) by ($0.32), Zacks reports. Local Bounti had a negative net margin of 427.08% and a negative return on equity of 1,095.76%.

Local Bounti Trading Up 2.7 %

LOCL stock traded up $0.06 during mid-day trading on Monday, hitting $2.08. The stock had a trading volume of 4,828 shares, compared to its average volume of 9,552. Local Bounti has a 52 week low of $1.18 and a 52 week high of $3.33. The firm has a market capitalization of $17.96 million, a P/E ratio of -0.12 and a beta of 2.20. The firm has a fifty day simple moving average of $2.19 and a 200 day simple moving average of $2.18.

Local Bounti Company Profile

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.