Local Bounti (NYSE:LOCL) CEO Kathleen Valiasek Sells 118,720 Shares

Local Bounti Corporation (NYSE:LOCL) CEO Kathleen Valiasek sold 118,720 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $1.30, for a total transaction of $154,336.00. Following the completion of the transaction, the chief executive officer directly owned 1,524,860 shares in the company, valued at approximately $1,982,318. The trade was a 7.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Local Bounti Stock Down 2.3%

LOCL stock opened at $1.27 on Friday. Local Bounti Corporation has a twelve month low of $0.98 and a twelve month high of $4.00. The company has a market cap of $28.95 million, a P/E ratio of -0.34 and a beta of 2.71. The business’s fifty day moving average is $1.67 and its 200-day moving average is $1.75.

Local Bounti (NYSE:LOCL) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.53) EPS for the quarter, hitting analysts’ consensus estimates of ($0.53). The company had revenue of $13.34 million for the quarter, compared to analyst estimates of $19.00 million.

Institutional Trading of Local Bounti

Several hedge funds have recently added to or reduced their stakes in LOCL. Walleye Trading LLC bought a new position in Local Bounti during the fourth quarter worth about $50,000. Outfitters Financial LLC increased its holdings in shares of Local Bounti by 99.4% in the fourth quarter. Outfitters Financial LLC now owns 30,291 shares of the company’s stock worth $65,000 after acquiring an additional 15,099 shares in the last quarter. Schwarz Dygos Wheeler Investment Advisors LLC acquired a new stake in shares of Local Bounti during the fourth quarter worth about $121,000. Finally, Walleye Capital LLC acquired a new stake in shares of Local Bounti during the fourth quarter worth about $691,000. Institutional investors and hedge funds own 28.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Local Bounti from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Local Bounti currently has a consensus 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.