Charles R. Jr. Schwab Buys 70,863 Shares of Local Bounti Co. (NYSE:LOCL) Stock

Local Bounti Co. (NYSE:LOCL) Director Charles R. Jr. Schwab purchased 70,863 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was acquired at an average cost of $2.00 per share, with a total value of $141,726.00. Following the completion of the acquisition, the director now directly owns 70,863 shares of the company’s stock, valued at $141,726. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Local Bounti Stock Up 8.8 %

NYSE LOCL traded up $0.17 during trading on Wednesday, reaching $2.10. 19,313 shares of the stock traded hands, compared to its average volume of 11,096. The firm has a market cap of $18.18 million, a price-to-earnings ratio of -0.12 and a beta of 2.20. Local Bounti Co. has a fifty-two week low of $1.18 and a fifty-two week high of $3.33. The stock’s 50-day moving average price is $2.19 and its 200 day moving average price is $2.18.

Local Bounti (NYSE:LOCL) last issued its earnings results on Monday, March 31st. The company reported ($4.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.89) by ($0.32). Local Bounti had a negative return on equity of 1,095.76% and a negative net margin of 427.08%. The firm had revenue of $10.07 million for the quarter, compared to analyst estimates of $10.95 million. During the same quarter in the previous year, the firm posted ($8.10) earnings per share. Analysts anticipate that Local Bounti Co. will post -13.81 EPS for the current fiscal 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) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 24,001 shares of the company’s stock, valued at approximately $50,000. Walleye Trading LLC owned about 0.28% of Local Bounti at the end of the most recent quarter. 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.