Allbirds, Inc. (NASDAQ:BIRD) Sees Large Increase in Short Interest

Allbirds, Inc. (NASDAQ:BIRD) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 574,900 shares, a growth of 22.1% from the October 31st total of 470,700 shares. Currently, 11.0% of the shares of the stock are short sold. Based on an average daily volume of 64,100 shares, the days-to-cover ratio is currently 9.0 days.

Insider Activity

In other news, CEO Joseph Vernachio sold 2,367 shares of the business’s 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 $522,432. The trade was a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 45.50% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Allbirds stock. Jacobs Levy Equity Management Inc. bought a new stake in Allbirds, Inc. (NASDAQ:BIRD) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 11,730 shares of the company’s stock, valued at approximately $138,000. Jacobs Levy Equity Management Inc. owned about 0.15% of Allbirds at the end of the most recent quarter. Institutional investors and hedge funds own 44.07% of the company’s stock.

Allbirds Stock Performance

BIRD stock traded up $0.18 during trading on Friday, hitting $7.99. The stock had a trading volume of 20,564 shares, compared to its average volume of 57,448. The stock has a market cap of $63.36 million, a price-to-earnings ratio of -0.50 and a beta of 1.77. The company’s 50 day moving average price is $9.88 and its two-hundred day moving average price is $11.45. Allbirds has a 1-year low of $7.25 and a 1-year high of $29.00.

Allbirds (NASDAQ:BIRD) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($2.68) EPS for the quarter, topping analysts’ consensus estimates of ($3.13) by $0.45. The business had revenue of $43.00 million during the quarter, compared to the consensus estimate of $42.11 million. Allbirds had a negative net margin of 60.43% and a negative return on equity of 65.30%. During the same period in the previous year, the firm posted ($4.20) earnings per share. As a group, sell-side analysts forecast that Allbirds will post -11.89 earnings per share for the current fiscal 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.