Short Interest in Allbirds, Inc. (NASDAQ:BIRD) Expands By 28.3%

Allbirds, Inc. (NASDAQ:BIRD) was the recipient of a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 11,340,000 shares, an increase of 28.3% from the July 31st total of 8,840,000 shares. Based on an average trading volume of 1,190,000 shares, the short-interest ratio is currently 9.5 days. Currently, 10.8% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, Wedbush lowered their price objective on Allbirds from $0.90 to $0.70 and set a “neutral” rating for the company in a research report on Thursday, May 9th.

Insider Activity at Allbirds

In other Allbirds news, Director Timothy O. Brown sold 50,000 shares of Allbirds stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $0.59, for a total transaction of $29,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Timothy O. Brown sold 50,000 shares of Allbirds stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $0.59, for a total transaction of $29,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ann Mitchell sold 62,486 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $0.56, for a total transaction of $34,992.16. Following the completion of the transaction, the chief financial officer now owns 812,024 shares in the company, valued at $454,733.44. The disclosure for this sale can be found here. 45.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Allbirds

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Allbirds in the 2nd quarter valued at about $65,000. Coldstream Capital Management Inc. purchased a new position in Allbirds in the fourth quarter valued at approximately $274,000. CastleKnight Management LP acquired a new position in Allbirds during the fourth quarter valued at approximately $348,000. Finally, Laidlaw Wealth Management LLC acquired a new position in Allbirds during the fourth quarter valued at approximately $751,000. 44.07% of the stock is currently owned by institutional investors and hedge funds.

Allbirds Stock Down 1.4 %

Shares of BIRD traded down $0.01 during mid-day trading on Friday, hitting $0.71. The company had a trading volume of 1,753,387 shares, compared to its average volume of 1,091,034. Allbirds has a 1-year low of $0.45 and a 1-year high of $1.46. The business’s 50-day simple moving average is $0.64 and its 200-day simple moving average is $0.67. The stock has a market cap of $110.09 million, a PE ratio of -0.74 and a beta of 1.76.

Allbirds shares are scheduled to reverse split before the market opens on Thursday, September 5th. The 1-20 reverse split was announced on Friday, August 30th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, September 4th.

Allbirds (NASDAQ:BIRD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.06. The company had revenue of $51.58 million during the quarter, compared to analysts’ expectations of $50.34 million. Allbirds had a negative net margin of 60.50% and a negative return on equity of 57.15%. During the same period in the previous year, the company earned ($0.18) EPS. On average, sell-side analysts expect that Allbirds will post -0.66 earnings per share for the current year.

Allbirds Company Profile

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.