Allbirds, Inc. (NASDAQ:BIRD – Get Free Report) 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.
View Our Latest Stock Analysis on BIRD
Insider Activity at Allbirds
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 – Get Free Report) 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.
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