Allbirds, Inc. (NASDAQ:BIRD – Free Report)’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 – Get Free Report) 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
Check Out Our Latest Analysis on BIRD
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.
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