Local Bounti (NYSE:LOCL) Trading Down 5.7% – Here’s What Happened

Local Bounti Co. (NYSE:LOCL) shares fell 5.7% during trading on Monday . The company traded as low as $2.25 and last traded at $2.31. 16,315 shares were traded during trading, an increase of 68% from the average session volume of 9,698 shares. The stock had previously closed at $2.45.

Local Bounti Stock Down 6.2 %

The stock’s 50-day moving average is $2.21 and its 200 day moving average is $2.23. The stock has a market capitalization of $18.35 million, a PE ratio of -0.12 and a beta of 2.20.

Insider Activity at Local Bounti

In other Local Bounti news, Director Jennifer Carr-Smith sold 21,237 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $1.48, for a total value of $31,430.76. Following the completion of the sale, the director now directly owns 14,880 shares of the company’s stock, valued at $22,022.40. The trade was a 58.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have purchased 21,947 shares of company stock valued at $37,145. Corporate insiders own 38.10% of the company’s stock.

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 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 24,001 shares of the company’s stock, valued at approximately $50,000. Walleye Trading LLC owned approximately 0.28% of Local Bounti as of its most recent SEC filing. Hedge funds and other institutional investors own 28.01% of the company’s stock.

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.