Local Bounti Co. (NYSE:LOCL) Director Mark Joseph Nelson Sells 3,695 Shares of Stock

Local Bounti Co. (NYSE:LOCL) Director Mark Joseph Nelson sold 3,695 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $2.89, for a total value of $10,678.55. Following the completion of the sale, the director now directly owns 41,573 shares in the company, valued at $120,145.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Mark Joseph Nelson also recently made the following trade(s):

• On Monday, April 15th, Mark Joseph Nelson sold 660 shares of Local Bounti stock. The stock was sold at an average price of $2.31, for a total value of $1,524.60.

Local Bounti Price Performance

Shares of NYSE LOCL opened at $2.85 on Thursday. Local Bounti Co. has a 1-year low of $1.17 and a 1-year high of $6.33. The company has a quick ratio of 0.64, a current ratio of 0.80 and a debt-to-equity ratio of 18.20. The business’s fifty day moving average price is $2.87 and its two-hundred day moving average price is $2.55.

Local Bounti (NYSE:LOCL) last issued its earnings results on Thursday, May 9th. The company reported ($2.89) earnings per share for the quarter, missing the consensus estimate of ($2.76) by ($0.13). Local Bounti had a negative return on equity of 273.85% and a negative net margin of 425.89%. The company had revenue of $8.38 million during the quarter, compared to analyst estimates of $8.40 million. During the same period in the prior year, the business earned ($2.99) earnings per share. On average, analysts anticipate that Local Bounti Co. will post -12.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Local Bounti

A hedge fund recently raised its stake in Local Bounti stock. BNP Paribas Asset Management Holding S.A. grew its holdings in shares of Local Bounti Co. (NYSE:LOCL) by 65.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 198,329 shares of the company’s stock after purchasing an additional 78,205 shares during the period. BNP Paribas Asset Management Holding S.A. owned approximately 2.40% of Local Bounti worth $411,000 at the end of the most recent reporting period. Hedge funds and other institutional investors 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.