Lake Street Remains a Buy on Local Bounti Corporation (LOCL)
In a report released today, 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 closed yesterday at $2.59.
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According to TipRanks, Klieve is a 4-star analyst with an average return of 3.4% and a 42.71% success rate. Klieve covers the Consumer Defensive sector, focusing on stocks such as Vital Farms, MGP Ingredients, and Lifeway Foods.
Currently, the analyst consensus on Local Bounti Corporation is a Moderate Buy with an average price target of $7.50.
LOCL market cap is currently $25.87M and has a P/E ratio of -0.18.
Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LOCL in relation to earlier this year. Last month, CHARLES R JR SCHWAB, a Director at LOCL bought 70,863.00 shares for a total of $141,726.00.
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