Local Bounti Co. (NYSE:LOCL – Get Rating) – Oppenheimer lifted their FY2024 EPS estimates for Local Bounti in a note issued to investors on Wednesday, March 16th. Oppenheimer analyst C. Rusch now anticipates that the company will post earnings per share of $0.53 for the year, up from their prior forecast of $0.45. Oppenheimer currently has a “Outperform” rating and a $11.00 target price on the stock.
LOCL has been the subject of several other research reports. Roth Capital assumed coverage on Local Bounti in a research note on Tuesday, December 21st. They set a “buy” rating and a $8.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Local Bounti in a research note on Tuesday, January 4th. They set a “buy” rating and a $9.00 price objective for the company.
NYSE:LOCL opened at $6.59 on Thursday. Local Bounti has a 52-week low of $4.40 and a 52-week high of $12.87. The company’s fifty day simple moving average is $5.49.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Monashee Investment Management LLC purchased a new stake in Local Bounti during the fourth quarter valued at about $2,580,000. Allianz Asset Management GmbH purchased a new position in shares of Local Bounti in the fourth quarter worth about $581,000. Pinnacle Associates Ltd. purchased a new position in shares of Local Bounti in the fourth quarter worth about $387,000. Penserra Capital Management LLC purchased a new position in shares of Local Bounti in the fourth quarter worth about $169,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Local Bounti in the fourth quarter worth about $103,000. Institutional investors and hedge funds own 89.85% of the company’s stock.
Local Bounti Company Profile (Get Rating)
Local Bounti Corporation grows fresh greens and herbs. It produces lettuce, herbs, and loose-leaf lettuce. The company was incorporated in 2018 and is headquartered in Hamilton, Montana.
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