In a report released today, Ben Klieve from Lake Street reiterated a Buy rating on Local Bounti Corporation (LOCL – Research Report), with a price target of $20.00. The company’s shares opened today at $4.96.
According to TipRanks, Klieve is a 5-star analyst with an average return of 9.9% and a 47.26% success rate. Klieve covers the Consumer Defensive sector, focusing on stocks such as Calavo Growers, Vital Farms, and Local Bounti Corporation.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Local Bounti Corporation with a $16.50 average price target.
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Based on Local Bounti Corporation’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $6.7 million and a GAAP net loss of $23.53 million. In comparison, last year the company earned a revenue of $282 thousand and had a GAAP net loss of $25.77 million
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