A correction may be in store for Local Bounti Corporation (NYSE:LOCL) shares?

In the latest session, Local Bounti Corporation (NYSE: LOCL) closed at $2.28 up 5.56% from its previous closing price of $2.16. In other words, the price has increased by $+0.1200 from its previous closing price. On the day, 143050 shares were traded. LOCL stock price reached its highest trading level at $2.2900 during the session, while it also had its lowest trading level at $2.0900.

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For a deeper understanding of Local Bounti Corporation’s stock, let’s take a closer look at its various ratios. For the most recent quarter (mrq), Quick Ratio is recorded 2.00 and its Current Ratio is at 2.20. In the meantime, Its Debt-to-Equity ratio is 1.07 whereas as Long-Term Debt/Eq ratio is at 1.07.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Morgan Stanley on April 20, 2022, initiated with a Equal-Weight rating and assigned the stock a target price of $8.50.

On January 04, 2022, Deutsche Bank started tracking the stock assigning a Buy rating and target price of $9.

On December 22, 2021, Oppenheimer started tracking the stock assigning a Outperform rating and target price of $11.Oppenheimer initiated its Outperform rating on December 22, 2021, with a $11 target price.

Insider Transactions:

Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Oct 21 when Schwab Charles R. bought 3,000,000 shares for $2.50 per share. The transaction valued at 7,500,000 led to the insider holds 11,157,694 shares of the business.

Nelson Mark Joseph sold 9,696 shares of LOCL for $26,744 on Oct 13. The Director now owns 188,161 shares after completing the transaction at $2.76 per share. On Sep 02, another insider, McKinney Mark Alan, who serves as the Chief Operating Officer of the company, sold 15,276 shares for $3.60 each. As a result, the insider received 54,948 and left with 1,531,179 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 33.48 while its Price-to-Book (P/B) ratio in mrq is 1.80.

Stock Price History:

Over the past 52 weeks, LOCL has reached a high of $12.87, while it has fallen to a 52-week low of $2.05. The 50-Day Moving Average of the stock is 2.7026, while the 200-Day Moving Average is calculated to be 4.5619.

Shares Statistics:

For the past three months, LOCL has traded an average of 249.65K shares per day and 245.52k over the past ten days. A total of 103.68M shares are outstanding, with a floating share count of 38.99M. Insiders hold about 10.40% of the company’s shares, while institutions hold 16.80% stake in the company. Shares short for LOCL as of Oct 13, 2022 were 3.56M with a Short Ratio of 4.00M, compared to 3.23M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 3.78% and a Short% of Float of 9.71%.

Earnings Estimates

There are 5 different market analysts currently analyzing its stock. The consensus estimate for the next quarter is -$0.26, with high estimates of -$0.23 and low estimates of -$0.3.

Analysts are recommending an EPS of between -$1.1 and -$1.29 for the fiscal current year, implying an average EPS of -$1.17. EPS for the following year is -$0.87, with 5 analysts recommending between -$0.6 and -$1.12.

Revenue Estimates

A total of 5 analysts have provided revenue estimates for LOCL’s current fiscal year. The highest revenue estimate was $22.1M, while the lowest revenue estimate was $20.3M, resulting in an average revenue estimate of $21.63M. In the same quarter a year ago, actual revenue was $638k, up 3,290.30% from the average estimate. Based on 5 analysts’ estimates, the company’s revenue will be $62.13M in the next fiscal year. The high estimate is $73M and the low estimate is $45M. The average revenue growth estimate for next year is up 187.20% from the average revenue estimate for this year.