5 Plant-Based Food Stocks to Buy and Hold for the Next 10 Years

In this article, we discuss 5 plant-based food stocks to buy and hold for the next 10 years. If you want to see more stocks from this list, check out 10 Plant-Based Food Stocks to Buy and Hold for the Next 10 Years.

5. Local Bounti Corporation (NYSE:LOCL)

Number of Hedge Fund Holders: 14

Local Bounti Corporation (NYSE:LOCL) grows fresh greens and herbs in the United States, which it sells to food retailers and food service distributors. Local Bounti Corporation (NYSE:LOCL) was founded in 2018 and is headquartered in Hamilton, Montana. On June 27, the stock climbed 8% in premarket trading as the company joined the Russell 2000 Index.

Morgan Stanley analyst Pamela Kaufman initiated coverage of Local Bounti Corporation (NYSE:LOCL) on April 20 with an ‘Equal Weight’ rating and $8.50 price target. The company’s differentiated agriculture technology has the potential to conquer the traditional farming market and she expects a 125% three-year revenue compound annual growth rate as production scales, but contended that this potential is factored into the stock at current levels.

According to Insider Monkey’s Q1 data, 14 hedge funds were long Local Bounti Corporation (NYSE:LOCL), with collective stakes exceeding $10 million, compared to 18 funds in the prior quarter, holding stakes in the company valued at $6 million.