Allbirds, Inc. (NASDAQ:BIRD) Short Interest Update

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. Currently, 10.8% of the shares of the company are sold short. Based on an average daily trading volume, of 1,190,000 shares, the days-to-cover ratio is currently 9.5 days.

Analyst Upgrades and Downgrades

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

Allbirds Stock Down 1.4 %

BIRD traded down $0.01 on Friday, hitting $0.71. The company had a trading volume of 1,753,710 shares, compared to its average volume of 928,361. Allbirds has a 1-year low of $0.45 and a 1-year high of $1.46. The company’s fifty day moving average price is $0.64 and its 200 day moving average price is $0.67.

Allbirds shares are going 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 issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $50.34 million. During the same period in the prior year, the firm earned ($0.18) EPS. Research analysts forecast that Allbirds will post -0.61 EPS for the current year.

Insider Buying and Selling

In related news, CFO Ann Mitchell sold 62,486 shares of Allbirds stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $0.56, for a total value of $34,992.16. Following the sale, the chief financial officer now directly owns 812,024 shares in the company, valued at approximately $454,733.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Allbirds news, CFO Ann Mitchell sold 62,486 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was 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 approximately $454,733.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy O. Brown sold 50,000 shares of the firm’s 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. 45.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allbirds

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