BNP PARIBAS ASSET MANAGEMENT Holding S.A. Trims Stock Holdings in Local Bounti Co. (NYSE:LOCL)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its stake in shares of Local Bounti Co. (NYSE:LOCL) by 58.7% in the second quarter, HoldingsChannel reports. The firm owned 52,707 shares of the company’s stock after selling 75,057 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Local Bounti were worth $147,000 at the end of the most recent reporting period.

Local Bounti Price Performance

NYSE:LOCL opened at $2.55 on Wednesday. Local Bounti Co. has a 12-month low of $1.17 and a 12-month high of $6.33. The firm has a market cap of $21.64 million, a price-to-earnings ratio of -0.17 and a beta of 2.54. The company’s 50-day moving average is $2.79 and its two-hundred day moving average is $2.77. The company has a current ratio of 0.62, a quick ratio of 0.49 and a debt-to-equity ratio of 18.20.

Local Bounti (NYSE:LOCL) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($3.00) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.19) by $0.19. The business had revenue of $9.44 million for the quarter, compared to the consensus estimate of $11.30 million. Local Bounti had a negative net margin of 441.65% and a negative return on equity of 1,095.76%. During the same quarter in the prior year, the firm posted ($1.35) earnings per share. Research analysts expect that Local Bounti Co. will post -11.24 EPS for the current year.

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.