The stock of Local Bounti Corp (NYSE: LOCL) has increased by 41.22 when compared to last closing price of 2.96.Despite this, the company has seen a gain of 44.14% in its stock price over the last five trading days. Seeking Alpha reported 2023-08-09 that Local Bounti Corporation (NYSE:LOCL ) Q2 2023 Earnings Conference Call August 9, 2023 8:00 AM ET Company Participants Jeff Sonnek – SVP, ICR Anna Fabrega – CEO Kathleen Valiasek – CFO Conference Call Participants Kristen Owen – Oppenheimer Ben Klieve – Lake Street Capital Markets Brian Wright – ROTH MKM Operator Good morning, and welcome to the Local Bounti’s Second Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode.
Is It Worth Investing in Local Bounti Corp (NYSE: LOCL) Right Now?
, and the 36-month beta value for LOCL is at 2.29. Analysts have varying views on the stock, with 3 analysts rating it as a “buy,” 0 rating it as “overweight,” 1 as “hold,” and 0 as “sell.”
The average price suggested by analysts for LOCL is $1.25, which is -$2.93 below the current market price. The public float for LOCL is 3.05M, and currently, shorts hold a 5.91% of that float. The average trading volume for LOCL on November 20, 2023 was 47.21K shares.
LOCL’s Market Performance
LOCL’s stock has seen a 44.14% increase for the week, with a 196.45% rise in the past month and a 33.55% gain in the past quarter. The volatility ratio for the week is 19.47%, and the volatility levels for the past 30 days are at 29.44% for Local Bounti Corp The simple moving average for the past 20 days is 75.27% for LOCL’s stock, with a -15.96% simple moving average for the past 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 20, 2022 of the previous year 2022.
LOCL Trading at 81.30% 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 -87.19% of loss for the given period.
Volatility was left at 29.44%, however, over the last 30 days, the volatility rate increased by 19.47%, as shares surge +234.40% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +62.65% upper at present.
During the last 5 trading sessions, LOCL rose by +44.14%, which changed the moving average for the period of 200-days by -71.03% in comparison to the 20-day moving average, which settled at $2.53. In addition, Local Bounti Corp saw -76.87% 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 VALIASEK KATHLEEN, who purchase 800 shares at the price of $3.17 back on Nov 13. After this action, VALIASEK KATHLEEN now owns 273,686 shares of Local Bounti Corp, valued at $2,540 using the latest closing price.
VALIASEK KATHLEEN, the Chief Financial Officer of Local Bounti Corp, purchase 700 shares at $2.82 during a trade that took place back on Nov 10, which means that VALIASEK KATHLEEN is holding 272,886 shares at $1,974 based on the most recent closing price.
Stock Fundamentals for LOCL
Current profitability levels for the company are sitting at:
- -462.80 for the present operating margin
- -26.98 for the gross margin
The net margin for Local Bounti Corp stands at -570.36. The total capital return value is set at -47.25, while invested capital returns managed to touch -58.24. Equity return is now at value -86.22, with -26.58 for asset returns.
Based on Local Bounti Corp (LOCL), the company’s capital structure generated 110.62 points at debt to equity in total, while total debt to capital is 52.52. Total debt to assets is 48.15, with long-term debt to equity ratio resting at 110.56. Finally, the long-term debt to capital ratio is 52.49.
When we switch over and look at the enterprise to sales, we see a ratio of 5.26, with the company’s debt to enterprise value settled at 0.53. The receivables turnover for the company is 13.87 and the total asset turnover is 0.09. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.47.
In conclusion, Local Bounti Corp (LOCL) has had a mixed performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.