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

Allbirds, Inc. (NASDAQ:BIRD) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 518,500 shares, a growth of 9.0% from the August 31st total of 475,700 shares. Currently, 9.9% of the company’s stock are sold short. Based on an average daily volume of 64,400 shares, the short-interest ratio is presently 8.1 days.

Allbirds Stock Performance

BIRD stock traded down $0.47 during mid-day trading on Tuesday, hitting $11.33. The company had a trading volume of 6,028 shares, compared to its average volume of 55,158. Allbirds has a 12 month low of $9.06 and a 12 month high of $29.00. The stock’s fifty day moving average price is $4.31 and its two-hundred day moving average price is $1.92. The firm has a market cap of $1.77 billion, a PE ratio of -12.15 and a beta of 1.79.

Allbirds (NASDAQ:BIRD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.06. The company had revenue of $51.58 million during the quarter, compared to analyst estimates of $50.34 million. Allbirds had a negative return on equity of 61.22% and a negative net margin of 61.24%. During the same quarter last year, the firm posted ($0.18) EPS. Equities analysts anticipate that Allbirds will post -12.27 earnings per share for the current year.

Insider Activity

In related news, CEO Joseph Vernachio sold 47,340 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $0.60, for a total value of $28,404.00. Following the transaction, the chief executive officer now directly owns 870,720 shares in the company, valued at approximately $522,432. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Joseph Vernachio sold 47,340 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $0.60, for a total value of $28,404.00. Following the completion of the sale, the chief executive officer now directly owns 870,720 shares of the company’s stock, valued at approximately $522,432. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy O. Brown sold 50,000 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $0.59, for a total transaction of $29,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,840 shares of company stock worth $68,404. Company insiders own 45.50% of the company’s stock.

Institutional Investors Weigh In On Allbirds

An institutional investor recently bought a new position in Allbirds stock. CastleKnight Management LP purchased a new stake in Allbirds, Inc. (NASDAQ:BIRD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 284,000 shares of the company’s stock, valued at approximately $348,000. CastleKnight Management LP owned approximately 0.19% of Allbirds as of its most recent SEC filing. 44.07% of the stock is owned by institutional investors and hedge funds.

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.