Local Bounti (NYSE:LOCL) CEO Sells $154,336.00 in Stock

Local Bounti Corporation (NYSE:LOCL) CEO Kathleen Valiasek sold 118,720 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $1.30, for a total transaction of $154,336.00. Following the transaction, the chief executive officer directly owned 1,524,860 shares in the company, valued at $1,982,318. The trade was a 7.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Local Bounti Stock Performance

LOCL traded down $0.03 during midday trading on Thursday, reaching $1.27. The company had a trading volume of 177,682 shares, compared to its average volume of 725,474. Local Bounti Corporation has a 12-month low of $0.98 and a 12-month high of $4.00. The business has a 50-day moving average price of $1.71 and a two-hundred day moving average price of $1.76. The stock has a market cap of $28.96 million, a PE ratio of -0.34 and a beta of 2.71.

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LOCL. Walleye Capital LLC bought a new stake in Local Bounti during the fourth quarter valued at about $691,000. Schwarz Dygos Wheeler Investment Advisors LLC purchased a new position in shares of Local Bounti during the 4th quarter valued at about $121,000. Outfitters Financial LLC lifted its position in shares of Local Bounti by 99.4% during the 4th quarter. Outfitters Financial LLC now owns 30,291 shares of the company’s stock valued at $65,000 after buying an additional 15,099 shares in the last quarter. Finally, Walleye Trading LLC bought a new position in shares of Local Bounti during the 4th quarter valued at approximately $50,000. Institutional investors own 28.01% of the company’s stock.

Local Bounti Company Profile

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.