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Stock Of Local Bounti Corporation (NYSE: LOCL) Dropped By -15.91 Percent Over The Past Month, Is There Room For Downside?

Local Bounti Corporation (NYSE:LOCL)’s traded shares stood at 1.55 million during the last session. At the close of trading, the stock’s price was $0.74, to imply an increase of 110.65% or $0.39 in intraday trading. The LOCL share’s 52-week high remains $9.66, putting it -1205.41% down since that peak but still an impressive 55.41% since price per share fell to its 52-week low of $0.33. The company has a valuation of $78.11M, with an average of 0.31 million shares in intraday trading volume over the past 10 days and average of 279.70K shares over the past 3 months.

Local Bounti Corporation (NYSE:LOCL) trade information

After registering a 110.65% upside in the last session, Local Bounti Corporation (LOCL) has traded red over the past five days. The stock hit a weekly high of 0.7500 this Friday, 03/17/23, jumping 110.65% in its intraday price action. The 5-day price performance for the stock is 46.94%, and -15.91% over 30 days. With these gigs, the year-to-date price performance is -46.76%. Short interest in Local Bounti Corporation (NYSE:LOCL) saw shorts transact 4.34 million shares and set a 14.46 days time to cover.

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Local Bounti Corporation (LOCL) estimates and forecasts

Looking at statistics comparing Local Bounti Corporation share performance against respective industry, we note that the company has underperformed competitors. Local Bounti Corporation (LOCL) shares are -74.13% down over the last 6 months, with its year-to-date growth rate lower than industry average at -34.41% against 7.00%. The rating firms project that company’s revenue will grow 3,102.20% compared to the previous financial year.

Revenue forecast for the current quarter as set by 4 analysts is $7.49 million. Meanwhile, for the quarter ending Mar 2023, a total of 3 analyst(s) estimate revenue growth to $9.05 million.Earnings reports from the last fiscal year show that sales brought in $638k and $282k respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 1,074.00% before jumping 3,109.20% in the following quarter.

LOCL Dividends

Local Bounti Corporation has its next earnings report out on August 15. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Local Bounti Corporation has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Local Bounti Corporation (NYSE:LOCL)’s Major holders

Local Bounti Corporation insiders hold 52.28% of total outstanding shares, with institutional holders owning 16.57% of the shares at 34.73% float percentage. In total, 16.57% institutions holds shares in the company, led by FMR, LLC. As of Sep 29, 2022, the company held over 6.13 million shares (or 5.91% of shares), all amounting to roughly $17.4 million.

The next major institution holding the largest number of shares is Blackrock Inc. with 2.14 million shares, or about 2.07% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $6.09 million.

We also have Fidelity Advisor Growth Opportunities Fund and Fidelity Select Portfolios – Technology as the top two Mutual Funds with the largest holdings of the Local Bounti Corporation (LOCL) shares. Going by data provided on Dec 30, 2022, Fidelity Advisor Growth Opportunities Fund holds roughly 3.65 million shares. This is just over 3.52% of the total shares, with a market valuation of $5.08 million. Data from the same date shows that the other fund manager holds a little less at 1.55 million, or 1.49% of the shares, all valued at about 2.15 million.

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