Local Bounti Corporation (NYSE:LOCL) went down by -10.49% from its latest closing price compared to the recent 1-year high of $12.87. The company’s stock price has collected -24.26% of loss in the last five trading sessions.
Is It Worth Investing in Local Bounti Corporation (NYSE :LOCL) Right Now?
Opinions of the stock are interesting as 4 analysts out of 5 who provided ratings for Local Bounti Corporation declared the stock was a “buy,” while 0 rated the stock as “overweight,” 1 rated it as “hold,” and 0 as “sell.”
The average price from analysts is $10.20, which is $7.64 above the current price. LOCL currently public float of 32.16M and currently shorts hold a 9.91% ratio of that float. Today, the average trading volume of LOCL was 215.62K shares.
LOCL’s Market Performance
LOCL stocks went down by -24.26% for the week, with a monthly drop of -31.73% and a quarterly performance of -30.25%, while its annual performance rate touched -74.19%. The volatility ratio for the week stands at 10.62% while the volatility levels for the past 30 days are set at 9.38% for Local Bounti Corporation. The simple moving average for the period of the last 20 days is -28.91% for LOCL stocks with a simple moving average of -51.45% for the last 200 days.
Analysts’ Opinion of LOCL
Many brokerage firms have already submitted their reports for LOCL stocks, with Morgan Stanley repeating the rating for LOCL by listing it as a “Equal-Weight.” The predicted price for LOCL in the upcoming period, according to Morgan Stanley is $8.50 based on the research report published on April 20th of the current year 2022.
Deutsche Bank, on the other hand, stated in their research note that they expect to see LOCL reach a price target of $9. The rating they have provided for LOCL stocks is “Buy” according to the report published on January 04th, 2022.
Oppenheimer gave a rating of “Outperform” to LOCL, setting the target price at $11 in the report published on December 22nd of the previous year.
LOCL Trading at -33.10% from the 50-Day Moving Average
After a stumble in the market that brought LOCL to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -80.11% of loss for the given period.
Volatility was left at 9.38%, however, over the last 30 days, the volatility rate increased by 10.62%, as shares sank -32.63% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -32.81% lower at present.
During the last 5 trading sessions, LOCL fell by -24.26%, which changed the moving average for the period of 200-days by -61.04% in comparison to the 20-day moving average, which settled at $3.54. In addition, Local Bounti Corporation saw -60.31% in overturn over a single year, with a tendency to cut further losses.
Reports are indicating that there were more than several insider trading activities at LOCL starting from McKinney Mark Alan, who sale 15,276 shares at the price of $3.60 back on Sep 02. After this action, McKinney Mark Alan now owns 1,531,179 shares of Local Bounti Corporation, valued at $54,948 using the latest closing price.
Joyner Travis M., the Co-Chief Executive Officer of Local Bounti Corporation, sale 15,913 shares at $4.00 during a trade that took place back on Aug 26, which means that Joyner Travis M. is holding 16,022,501 shares at $63,671 based on the most recent closing price.
Stock Fundamentals for LOCL
Current profitability levels for the company are sitting at:
- -7008.93 for the present operating margin
- -21.32 for the gross margin
The net margin for Local Bounti Corporation stands at -8792.01.
The liquidity ratio also appears to be rather interesting for investors as it stands at 5.87.