Short Interest in Allbirds, Inc. (NASDAQ:BIRD) Decreases By 95.8%

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

Allbirds Stock Down 5.6 %

Shares of BIRD traded down $0.77 during midday trading on Thursday, hitting $13.02. The company’s stock had a trading volume of 33,213 shares, compared to its average volume of 56,111. Allbirds has a one year low of $9.06 and a one year high of $29.00. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of -13.69 and a beta of 1.79. The company’s fifty day simple moving average is $12.66 and its two-hundred day simple moving average is $12.96.

Allbirds (NASDAQ:BIRD) last released its earnings results on Wednesday, August 7th. The company reported ($2.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.60) by $1.20. The firm had revenue of $51.58 million for the quarter, compared to analysts’ expectations of $50.34 million. Allbirds had a negative return on equity of 61.22% and a negative net margin of 61.24%. During the same quarter in the previous year, the business posted ($3.60) earnings per share. On average, research analysts predict that Allbirds will post -12.2 earnings per share for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Allbirds

Institutional investors have recently added to or reduced their stakes in the stock. Laidlaw Wealth Management LLC acquired a new stake in Allbirds in the fourth quarter valued at approximately $751,000. CastleKnight Management LP acquired a new stake in shares of Allbirds during the 4th quarter valued at $348,000. Coldstream Capital Management Inc. bought a new stake in Allbirds during the 4th quarter worth $274,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Allbirds in the 2nd quarter worth about $65,000. 44.07% of the stock is currently owned by institutional investors and hedge funds.

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.