Lake Street Reaffirms Their Buy Rating on Local Bounti Corporation (LOCL)
In a report released yesterday, Ben Klieve from Lake Street maintained a Buy rating on Local Bounti Corporation (LOCL – Research Report), with a price target of $10.00. The company’s shares opened today at $2.05.
Don't Miss Our End of Quarter Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks.
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter.
According to TipRanks, Klieve is a 3-star analyst with an average return of 2.5% and a 40.17% success rate. Klieve covers the Consumer Defensive sector, focusing on stocks such as Vital Farms, Lifeway Foods, and Calavo Growers.
In a report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $5.00 price target.
Based on Local Bounti Corporation’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $10.24 million and a GAAP net loss of $34.33 million. In comparison, last year the company earned a revenue of $6.81 million and had a GAAP net loss of $24.26 million
Based on the recent corporate insider activity of 33 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.
Read More on LOCL:
