Allbirds (NASDAQ:BIRD) Shares to Reverse Split on Thursday, September 5th

Allbirds, Inc. (NASDAQ:BIRD)’s stock is 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 market closes on Wednesday, September 4th.

Allbirds Stock Down 1.4 %

NASDAQ:BIRD opened at $0.71 on Friday. The stock’s 50 day moving average price is $0.64 and its two-hundred day moving average price is $0.67. The firm has a market capitalization of $110.09 million, a price-to-earnings ratio of -0.74 and a beta of 1.76. Allbirds has a 12-month low of $0.45 and a 12-month high of $1.46.

Allbirds (NASDAQ:BIRD) last released 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 firm had revenue of $51.58 million for the quarter, compared to analyst estimates of $50.34 million. Allbirds had a negative return on equity of 57.15% and a negative net margin of 60.50%. During the same quarter in the prior year, the company earned ($0.18) earnings per share. Equities research analysts expect that Allbirds will post -0.66 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Allbirds

In other news, CFO Ann Mitchell sold 62,486 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 812,024 shares in the company, valued at $454,733.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Timothy O. Brown sold 50,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $0.59, for a total transaction of $29,500.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Ann Mitchell sold 62,486 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $0.56, for a total value of $34,992.16. Following the transaction, the chief financial officer now owns 812,024 shares in the company, valued at approximately $454,733.44. The disclosure for this sale can be found here. 45.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Allbirds

A number of hedge funds have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in Allbirds during the 2nd quarter worth $65,000. Coldstream Capital Management Inc. bought a new position in Allbirds during the 4th quarter worth $274,000. CastleKnight Management LP bought a new position in Allbirds during the 4th quarter worth $348,000. Finally, Laidlaw Wealth Management LLC bought a new position in Allbirds during the 4th quarter worth $751,000. 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.