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

Allbirds, Inc. (NASDAQ:BIRD) saw a significant increase in short interest in January. As of January 15th, there was short interest totalling 704,200 shares, an increase of 14.2% from the December 31st total of 616,800 shares. Approximately 13.4% of the shares of the stock are short sold. Based on an average trading volume of 69,800 shares, the short-interest ratio is currently 10.1 days.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley lowered their target price on shares of Allbirds from $12.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st.

Institutional Trading of Allbirds

A hedge fund recently bought a new stake in Allbirds stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Allbirds, Inc. (NASDAQ:BIRD) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 129,694 shares of the company’s stock, valued at approximately $65,000. Point72 Asia Singapore Pte. Ltd. owned 0.08% of Allbirds as of its most recent SEC filing. 44.07% of the stock is owned by hedge funds and other institutional investors.

Allbirds Trading Down 2.3 %

Shares of NASDAQ BIRD opened at $6.35 on Monday. The business has a 50-day moving average of $7.23 and a 200-day moving average of $9.99. The firm has a market capitalization of $50.36 million, a price-to-earnings ratio of -0.39 and a beta of 1.61. Allbirds has a 12 month low of $6.09 and a 12 month high of $21.20.

Allbirds (NASDAQ:BIRD) last announced its earnings results on Wednesday, November 6th. The company reported ($2.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.13) by $0.45. Allbirds had a negative net margin of 60.43% and a negative return on equity of 65.30%. The company had revenue of $43.00 million during the quarter, compared to analyst estimates of $42.11 million. During the same period in the previous year, the business earned ($4.20) earnings per share. On average, analysts predict that Allbirds will post -11.87 earnings per share for the current year.

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.