Short Interest in Allbirds, Inc. (NASDAQ:BIRD) Expands By 9.0%

Allbirds, Inc. (NASDAQ:BIRD) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 518,500 shares, an increase of 9.0% from the August 31st total of 475,700 shares. Based on an average daily trading volume, of 64,400 shares, the days-to-cover ratio is presently 8.1 days. Currently, 9.9% of the company’s shares are sold short.

Allbirds Stock Performance

Shares of NASDAQ BIRD traded down $0.47 during midday trading on Tuesday, hitting $11.33. 6,028 shares of the stock traded hands, compared to its average volume of 55,158. Allbirds has a one year low of $9.06 and a one year high of $29.00. The firm has a market capitalization of $1.77 billion, a P/E ratio of -12.15 and a beta of 1.79. The firm has a 50-day moving average of $4.31 and a two-hundred day moving average of $1.92.

Allbirds (NASDAQ:BIRD) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.06. Allbirds had a negative net margin of 61.24% and a negative return on equity of 61.22%. The firm had revenue of $51.58 million during the quarter, compared to analyst estimates of $50.34 million. During the same quarter in the prior year, the firm earned ($0.18) EPS. Equities analysts forecast that Allbirds will post -12.27 earnings per share for the current fiscal year.

Insider Transactions at Allbirds

In other news, CEO Joseph Vernachio sold 47,340 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $0.60, for a total value of $28,404.00. Following the completion of the sale, the chief executive officer now directly owns 870,720 shares of the company’s stock, valued at approximately $522,432. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Joseph Vernachio sold 47,340 shares of Allbirds stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $0.60, for a total transaction of $28,404.00. Following the completion of the transaction, the chief executive officer now directly owns 870,720 shares in the company, valued at $522,432. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy O. Brown sold 50,000 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $0.59, for a total value of $29,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 114,840 shares of company stock worth $68,404. 45.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Allbirds

A hedge fund recently bought a new stake in Allbirds stock. CastleKnight Management LP purchased a new position in Allbirds, Inc. (NASDAQ:BIRD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 284,000 shares of the company’s stock, valued at approximately $348,000. CastleKnight Management LP owned 0.19% of Allbirds at the end of the most recent reporting period. Institutional investors own 44.07% of the company’s stock.

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.