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Local Bounti (LOCL)

Company Profile
Local Bounti is a holding company and has no material assets other than its direct and indirect equity interests in its subsidiaries. Local Bounti has no independent means of generating revenue. To the extent Local Bounti’s subsidiaries have available cash, Local Bounti will cause its subsidiaries to make distributions of cash to pay taxes, cover Local Bounti’s corporate and other overhead expenses and pay dividends, if any, on the common stock. To the extent that Local Bounti needs funds and its subsidiaries fail to generate sufficient cash flow to distribute funds to Local Bounti or are restricted from making such distributions or payments under applicable law or regulation or under the terms of their financing arrangements, or are otherwise unable to provide such funds, Local Bounti’s liquidity and financial condition could be materially adversely affected.

Company profile

Ticker
LOCL, LOCL-WT
Exchange
NYSE
Employees
Incorporated
Delaware
Location
Montana
Fiscal year end
Dec 31
Sector
Agriculture, Forestry, Fishing and Hunting > Soybean Farming
Industry (SIC)
Agricultural Production - Crops
Corteva • Verano • Fresh Del Monte Produce • Dole • Columbia Care • Green Thumb Industries • Harvest Health & Recreation • TPCO Holding • TerrAscend • iANTHUS CAPITAL ...
Former names
Leo Holdings III Corp.
SEC CIK
0001840780
Corporate docs
Articles of Incorporation & Bylaws
Underwriting Agreements
Plans of Reorganization
Indentures
Material Contracts & Credit Agreements
Subsidiaries Lists

LOCL stock data

Analyst ratings and price targets

Last 3 months
Morgan Stanley
Maintains
Equal-Weight
$2.75
11 Nov 22
Latest filings (excl ownership)
View all
EFFECT
Notice of effectiveness
12 Jan 23
8-K
Entry into a Material Definitive Agreement
6 Jan 23
424B3
Prospectus supplement
5 Jan 23
EFFECT
Notice of effectiveness
5 Jan 23
POS AM
Prospectus update (post-effective amendment)
30 Dec 22
S-3
Shelf registration
30 Dec 22
424B3
Prospectus supplement
16 Dec 22
424B3
Prospectus supplement
16 Dec 22
424B3
Prospectus supplement
16 Dec 22
8-K
Departure of Directors or Certain Officers
16 Dec 22
Transcripts
LOCL
Earnings call transcript
2022 Q3
12 Nov 22
LOCL
Earnings call transcript
2022 Q2
15 Aug 22
LOCL
Earnings call transcript
2022 Q1
10 May 22
LOCL
Earnings call transcript
2021 Q4
15 Mar 22
Latest ownership filings
View all
4
Mark Joseph Nelson
18 Jan 23
SC 13D/A
McLeod Management Co., LLC
6 Jan 23
SC 13D/A
Wheat Wind Farms, LLC
6 Jan 23
4
Matthew Nordby
5 Jan 23
4
EDWARD C FORST
5 Jan 23
4
Change in insider ownership
5 Jan 23
4
KATHLEEN VALIASEK
4 Jan 23
4
Margaret McCandless
4 Jan 23
4
Brian C. Cook
4 Jan 23
4
B. David Vosburg
4 Jan 23

Financial summary

Financial statements Chart LOCL financial data
Quarter (USD) Sep 22 Jun 22 Mar 22 Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 23.98 mm 23.98 mm 23.98 mm 23.98 mm 23.98 mm 23.98 mm
Cash burn (monthly) 5.77 mm (no burn) 7.33 mm 8.25 mm 3.42 mm 3.50 mm
Cash used (since last report) 23.90 mm n/a 30.36 mm 34.19 mm 14.18 mm 14.51 mm
Cash remaining 83.76 k n/a -6.38 mm -10.21 mm 9.80 mm 9.47 mm
Runway (months of cash) 0.0 n/a -0.9 -1.2 2.9 2.7

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q3 2022

LOCL institutional ownership history Ownership history
55.5% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 28 64 -56.3%
Opened positions 20 26 -23.1%
Closed positions 56 12 +366.7%
Increased positions 1 16 -93.8%
Reduced positions 2 11 -81.8%
13F shares Current Prev Q Change
Total value 205.02 mm 281.99 mm -27.3%
Total shares 57.60 mm 68.48 mm -15.9%
Total puts 0.00 16.20 k EXIT
Total calls 233.60 k 309.30 k -24.5%
Total put/call ratio – 0.1 –
Largest owners Shares Value Change
Wheat Wind Farms 17.93 mm $64.20 mm -0.0%
McLeod Management 16.10 mm $57.64 mm -0.0%
Leo Investors III 12.10 mm $78.07 mm 0.0%
Live Oak Ventures 8.76 mm $0.00 0.0%
LMR Partners 1.08 mm $3.06 mm NEW
Owl Creek Asset Management 529.26 k $203.00 k NEW
Integrated Core Strategies 224.55 k $1.45 mm 0.0%
Moore Capital Management 150.00 k $57.00 k NEW
Sona Asset Management 127.17 k $49.00 k NEW
Kim 100.00 k $38.00 k NEW
Largest transactions Shares Bought/sold Change
FMR 0.00 -6.12 mm EXIT
Vanguard 0.00 -1.38 mm EXIT
BLK Blackrock 0.00 -1.22 mm EXIT
LMR Partners 1.08 mm +1.08 mm NEW
BNP Paribas Asset Management Holding 0.00 -804.56 k EXIT
De Burlo 0.00 -603.13 k EXIT
Main Street Research 0.00 -603.13 k EXIT
Allianz Asset Management GmbH 0.00 -593.48 k EXIT
STT State Street 0.00 -592.08 k EXIT
Owl Creek Asset Management 529.26 k +529.26 k NEW
Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

LOCL insider ownership history Insider history
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
13 Jan 23 Mark Joseph Nelson Common Stock Sell Dispose S No Yes 1.1455 9,422 10.79 k 178,739
3 Jan 23 Edward C Forst Common Stock Other Acquire J No No 0 704,153 0.00 730,194
3 Jan 23 Edward C Forst Warrants to purchase Common Stock Common Stock Other Acquire J Yes No 1.5 510,952 766.43 k 510,952
3 Jan 23 Edward C Forst Warrants to purchase Common Stock Common Stock Other Acquire J No No 1.5 495,000 742.50 k 495,000
3 Jan 23 Matthew Nordby Common Stock Other Acquire J No No 0 285,609 0.00 358,650
3 Jan 23 Matthew Nordby Warrants to purchase Common Stock Common Stock Other Acquire J No No 1.5 166,667 250.00 k 166,667
3 Jan 23 Leo Investors III Common Stock Other Dispose J No No 0 6,718,168 0.00 51,832
3 Jan 23 Leo Investors III Warrants to purchase Common Stock Common Stock Other Dispose J No No 1.5 4,321,906 6.48 mm 1,011,427
1 Jan 23 Brian C. Cook Common Stock Grant Acquire A No No 0 500,000 0.00 1,124,735
3 Jan 22 Edward C Forst Common Stock Other Acquire J Yes No 0 726,844 0.00 726,844
Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

News

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On Thursday, 13 stocks hit new 52-week lows.
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6 Jan 23
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30 Dec 22

Press releases

From Benzinga Pro
Local Bounti Introduces Asian Style Chicken Lettuce Wrap Kit Featuring Greenhouse-Grown Living Butter Lettuce
11 Jan 23
Premium lettuce wrap kit features living butter lettuce grown with innovative indoor agriculture method, offering consumers a fresh, restaurant quality meal at home in about five minutes HAMILTON, Mont., Jan. 11, 2023
Local Bounti Announces Third Quarter 2022 Financial Results
10 Nov 22
Third quarter revenue of $6.3 million, compared to $0.2 million in the prior year period Previously announced 5-year offtake agreement with Sam's Club for Local Bounti's leafy greens production Reaffirms full
Local Bounti Announces Partnership with Sam's Club to Deliver Fresh Produce in New Regions
7 Nov 22
5-year offtake agreement for Local Bounti's leafy greens production HAMILTON, Mont., Nov. 7, 2022 /PRNewswire/ --Local Bounti Corporation (NYSE:LOCL, LOCL WS)) ("Local Bounti" or the "Company"), a
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