Local Bounti (NYSE:LOCL) Trading 8.9% Higher

Shares of Local Bounti Co. (NYSE:LOCL) traded up 8.9% during mid-day trading on Wednesday . The company traded as high as $2.44 and last traded at $2.33. 8,444 shares were traded during trading, a decline of 19% from the average session volume of 10,431 shares. The stock had previously closed at $2.14.

Local Bounti Stock Performance

The business has a 50-day moving average price of $2.60 and a 200-day moving average price of $2.73. The firm has a market capitalization of $20.13 million, a price-to-earnings ratio of -0.15 and a beta of 2.54. The company has a quick ratio of 0.49, a current ratio of 0.62 and a debt-to-equity ratio of 18.20.

Local Bounti (NYSE:LOCL) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($3.00) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 1,095.76% and a negative net margin of 441.65%. During the same period in the prior year, the firm posted ($1.35) earnings per share. As a group, sell-side analysts forecast that Local Bounti Co. will post -11.24 earnings per share for the current year.

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.