Local Bounti Corporation (NYSE:LOCL) Short Interest Down 14.5% in February

Local Bounti Corporation (NYSE:LOCL) saw a significant decrease in short interest in the month of February. As of February 13th, there was short interest totaling 52,479 shares, a decrease of 14.5% from the January 29th total of 61,385 shares. Based on an average daily trading volume, of 19,277 shares, the short-interest ratio is presently 2.7 days. Approximately 0.3% of the company’s stock are short sold. Approximately 0.3% of the company’s stock are short sold. Based on an average daily trading volume, of 19,277 shares, the short-interest ratio is presently 2.7 days.

Local Bounti Stock Performance

Shares of LOCL stock traded down $0.04 during mid-day trading on Wednesday, reaching $1.16. 33,011 shares of the company were exchanged, compared to its average volume of 17,096. The business’s 50 day simple moving average is $2.02 and its 200 day simple moving average is $2.43. The company has a market capitalization of $25.83 million, a P/E ratio of -0.10 and a beta of 2.13. Local Bounti has a fifty-two week low of $1.01 and a fifty-two week high of $5.75.

Hedge Funds Weigh In On Local Bounti

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

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 analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company 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.