Lake Street analyst Ben Klieve reiterated a Buy rating on Local Bounti Corporation (LOCL – Research Report) today and set a price target of $3.50. The company’s shares closed yesterday at $0.48.
According to TipRanks, Klieve is a 5-star analyst with an average return of 11.0% and a 46.89% success rate. Klieve covers the Basic Materials sector, focusing on stocks such as S&W Seed Company, Limoneira Co, and Yield10 Bioscience.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Local Bounti Corporation with a $2.75 average price target.
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Based on Local Bounti Corporation’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $6.64 million and a GAAP net loss of $26.53 million. In comparison, last year the company earned a revenue of $314 thousand and had a GAAP net loss of $28.27 million
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LOCL in relation to earlier this year.
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