Allbirds, Inc. (NASDAQ:BIRD) Sees Significant Decrease in Short Interest

Allbirds, Inc. (NASDAQ:BIRD) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 475,700 shares, a drop of 95.8% from the August 15th total of 11,340,000 shares. Currently, 9.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 62,800 shares, the days-to-cover ratio is currently 7.6 days.

Allbirds Price Performance

Allbirds stock traded down $0.64 during mid-day trading on Friday, hitting $12.48. The company’s stock had a trading volume of 48,201 shares, compared to its average volume of 56,236. The firm’s 50 day moving average is $12.77 and its 200 day moving average is $12.91. The company has a market cap of $98.47 million, a PE ratio of -13.14 and a beta of 1.79. Allbirds has a 52-week low of $9.06 and a 52-week high of $29.00.

Allbirds (NASDAQ:BIRD) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($2.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.60) by $1.20. Allbirds had a negative return on equity of 61.22% and a negative net margin of 61.24%. The company had revenue of $51.58 million during the quarter, compared to the consensus estimate of $50.34 million. During the same period last year, the business earned ($3.60) EPS. As a group, analysts forecast that Allbirds will post -12.2 EPS for the current year.

Insider Activity at Allbirds

In related news, Director Timothy O. Brown sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $11.80, for a total transaction of $29,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Timothy O. Brown sold 2,500 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $11.80, for a total transaction of $29,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Joseph Vernachio sold 2,367 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $12.00, for a total value of $28,404.00. Following the sale, the chief executive officer now directly owns 43,536 shares of the company’s stock, valued at $522,432. The disclosure for this sale can be found here. Insiders sold 5,742 shares of company stock valued at $68,404 over the last 90 days. 45.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Allbirds

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Allbirds during the 2nd quarter valued at about $65,000. Coldstream Capital Management Inc. acquired a new position in shares of Allbirds during the 4th quarter valued at about $274,000. CastleKnight Management LP acquired a new position in shares of Allbirds during the 4th quarter valued at about $348,000. Finally, Laidlaw Wealth Management LLC acquired a new position in shares of Allbirds during the 4th quarter valued at about $751,000. 44.07% of the stock is owned by hedge funds and other institutional investors.

About Allbirds

Allbirds, Inc manufactures and sells footwear and apparel products for men and women in the United States and internationally. The company offers a range of lifestyle and performance shoes; and apparel, including classic tees and sweats, socks, and underwear. It sells its products through its retail stores, as well as online.