Local Bounti (NYSE:LOCL) Trading 8.9% Higher

Local Bounti Co. (NYSE:LOCL) rose 8.9% during trading on Wednesday . The stock traded as high as $2.44 and last traded at $2.33. Approximately 8,444 shares traded hands during mid-day trading, a decline of 19% from the average daily volume of 10,431 shares. The stock had previously closed at $2.14.

Local Bounti Trading Down 0.8 %

The company has a debt-to-equity ratio of 18.20, a quick ratio of 0.49 and a current ratio of 0.62. The firm has a market cap of $20.65 million, a PE ratio of -0.16 and a beta of 2.54. The stock has a 50-day simple moving average of $2.58 and a two-hundred day simple moving average of $2.73.

Local Bounti (NYSE:LOCL) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($3.00) earnings per share for the quarter, beating the consensus estimate of ($3.19) by $0.19. Local Bounti had a negative net margin of 441.65% and a negative return on equity of 1,095.76%. The firm had revenue of $9.44 million during the quarter, compared to analysts’ expectations of $11.30 million. During the same period in the previous year, the company earned ($1.35) earnings per share. As a group, sell-side analysts anticipate that Local Bounti Co. will post -11.24 EPS for the current year.

About Local Bounti

Local Bounti Corporation grows and packs fresh greens in the United States. It produces lettuce, herbs, and loose-leaf lettuce. The company sells its products to food retailers and food service distributors. Local Bounti Corporation was founded in 2018 and is headquartered in Hamilton, Montana.