Local Bounti Corporation (NYSE:LOCL) Short Interest Down 15.1% in February

Local Bounti Corporation (NYSE:LOCL) was the recipient of a large drop in short interest in February. As of February 27th, there was short interest totaling 44,537 shares, a drop of 15.1% from the February 12th total of 52,479 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average daily volume of 19,129 shares, the days-to-cover ratio is currently 2.3 days. Based on an average daily volume of 19,129 shares, the days-to-cover ratio is currently 2.3 days. Currently, 0.2% of the company’s shares are short sold.

Institutional Trading of Local Bounti

A number of institutional investors and hedge funds have recently modified their holdings of LOCL. Walleye Capital LLC acquired a new position in Local Bounti in the 4th quarter worth $691,000. BBR Partners LLC lifted its stake in Local Bounti by 564.7% in the 2nd quarter. BBR Partners LLC now owns 194,696 shares of the company’s stock valued at $456,000 after purchasing an additional 165,403 shares during the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC bought a new position in shares of Local Bounti during the 4th quarter worth approximately $121,000. Walleye Trading LLC acquired a new position in shares of Local Bounti in the fourth quarter valued at $50,000. Finally, Outfitters Financial LLC acquired a new position in Local Bounti in the 3rd quarter valued at about $45,000. 28.01% of the stock is owned by institutional investors.

Local Bounti Trading Up 1.0%

Shares of NYSE:LOCL traded up $0.01 during midday trading on Tuesday, hitting $1.05. The company had a trading volume of 18,105 shares, compared to its average volume of 24,482. The firm has a fifty day simple moving average of $1.80 and a 200 day simple moving average of $2.33. The stock has a market cap of $23.38 million, a price-to-earnings ratio of -0.09 and a beta of 2.13. Local Bounti has a 12 month low of $0.98 and a 12 month high of $5.75.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Local Bounti in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Local Bounti currently has an average rating of “Sell”.

About Local Bounti

Local Bounti Inc is a technology-driven indoor farming company that cultivates non-GMO leafy greens, microgreens and culinary herbs in controlled environment agriculture (CEA) facilities. By leveraging its proprietary Hybrid Growing System, the company maintains precise control over lighting, temperature and nutrient delivery, enabling year-round production of high-quality produce free from pesticides and seasonality constraints.

Headquartered in Montana, Local Bounti operates multiple cultivation centers across the United States, each designed to maximize water efficiency and minimize land use.