Local Bounti Co. (NYSE:LOCL) Major Shareholder Charles R. Schwab Acquires 1,700,723 Shares

Local Bounti Co. (NYSE:LOCL) major shareholder Charles R. Schwab purchased 1,700,723 shares of Local Bounti stock in a transaction on Monday, March 31st. The stock was bought at an average cost of $2.00 per share, with a total value of $3,401,446.00. Following the transaction, the insider now directly owns 1,700,723 shares of the company’s stock, valued at approximately $3,401,446. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Local Bounti Price Performance

Shares of NYSE LOCL traded up $0.17 during trading hours on Wednesday, hitting $2.10. 19,313 shares of the company’s stock were exchanged, compared to its average volume of 11,096. The stock has a market capitalization of $18.18 million, a price-to-earnings ratio of -0.12 and a beta of 2.20. The company’s 50-day moving average price is $2.19 and its 200-day moving average price is $2.18. Local Bounti Co. has a 1-year low of $1.18 and a 1-year high of $3.33.

Local Bounti (NYSE:LOCL) last announced its earnings results on Monday, March 31st. The company reported ($4.21) EPS for the quarter, missing the consensus estimate of ($3.89) by ($0.32). Local Bounti had a negative return on equity of 1,095.76% and a negative net margin of 427.08%. The business had revenue of $10.07 million during the quarter, compared to analyst estimates of $10.95 million. During the same period in the previous year, the firm earned ($8.10) earnings per share. On average, research analysts expect that Local Bounti Co. will post -13.81 earnings per share for the current year.

Institutional Trading of Local Bounti

An institutional investor recently bought a new position in Local Bounti stock. Walleye Trading LLC bought a new position in Local Bounti Co. (NYSE:LOCL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,001 shares of the company’s stock, valued at approximately $50,000. Walleye Trading LLC owned about 0.28% of Local Bounti at the end of the most recent quarter. 28.01% of the stock is owned by institutional investors.

Local Bounti Company Profile

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.