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HC Wainwright assumed coverage on shares of Local Corporation (NASDAQ:LOCM) in a research note issued on Thursday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.

Shares of Local Corporation (NASDAQ:LOCM) opened at 1.78 on Thursday. Local Corporation has a 52 week low of $1.52 and a 52 week high of $2.30. The stock has a 50-day moving average of $1.78 and a 200-day moving average of $1.82. The company’s market cap is $41.3 million.

Local Corporation (NASDAQ:LOCM) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). The company had revenue of $22.50 million for the quarter, compared to the consensus estimate of $25.88 million. On average, analysts predict that Local Corporation will post $-0.26 earnings per share for the current fiscal year.

Local Corp, formerly Local.com Corporation, operates a local media advertising company that enables local businesses and consumers to find each other and connect.

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