New insider activity at Local Bounti Corporation ( (LOCL) ) has taken place on April 3, 2025.
Significant shareholder Charles Schwab has made a substantial investment in Local Bounti Corporation by purchasing 1,700,723 shares, valued at $3,401,446. Additionally, Director Charles R. Jr. Schwab has acquired 70,863 shares of the company, amounting to $141,726.
Recent Updates on LOCL stock
Local Bounti Corporation has recently reported its Q4 earnings, highlighting several key developments. The company announced a significant leadership change with Kathleen Valiasek stepping in as CEO, which is expected to drive future growth. Financially, Local Bounti secured $27.5 million in new funding and restructured its debt, reducing it by nearly 40% and extending the maturity to 2035, which is anticipated to enhance financial stability. Operationally, the company expanded its facilities in Washington and Texas and improved its distribution network, notably with Walmart. Despite these advancements, the fourth quarter revenue fell short due to product mix recalibration at the Texas facility, impacting production and revenue. However, the overall outlook remains optimistic, with expectations of achieving positive adjusted EBITDA by Q3 2025.
More about Local Bounti Corporation
YTD Price Performance: -10.23%
Average Trading Volume: 9,975
Technical Sentiment Signal: Strong Buy
Current Market Cap: $17.83M