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

Local Bounti Corporation (NYSE:LOCL) CEO Kathleen Valiasek sold 118,720 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $1.06, for a total value of $125,843.20. Following the transaction, the chief executive officer directly owned 1,406,140 shares in the company, valued at approximately $1,490,508.40. This trade represents a 7.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Local Bounti Trading Up 0.5%

Shares of LOCL traded up $0.01 during mid-day trading on Tuesday, reaching $1.08. The company’s stock had a trading volume of 8,250 shares, compared to its average volume of 484,855. Local Bounti Corporation has a 1-year low of $0.95 and a 1-year high of $4.00. The stock has a market cap of $25.37 million, a P/E ratio of -0.39 and a beta of 2.81. The business has a 50-day simple moving average of $1.08 and a two-hundred day simple moving average of $1.37.

Local Bounti (NYSE:LOCL) last posted its earnings results on Wednesday, August 12th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.18). The company had revenue of $13.85 million during the quarter, compared to analyst estimates of $22.00 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Local Bounti from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

About Local Bounti

Local Bounti Corporation (NYSE: LOCL) was a controlled-environment agriculture company focused on growing fresh produce indoors. The company used hydroponic and vertical-farming methods, including its proprietary Stack & Flow Technology, to cultivate crops in climate-controlled facilities throughout the year.

Its product portfolio primarily included leafy greens, lettuce and fresh herbs marketed under the Local Bounti brand. The company supplied produce to grocery retailers, foodservice distributors and other commercial customers, emphasizing locally grown products with consistent availability and quality.

Founded in 2018 and headquartered in Hamilton, Montana, Local Bounti developed and operated indoor growing facilities serving customers in multiple U.S.