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

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

Allbirds Price Performance

Shares of BIRD stock traded up $0.15 on Monday, hitting $8.14. 102,482 shares of the stock traded hands, compared to its average volume of 57,638. Allbirds has a 52 week low of $7.25 and a 52 week high of $29.00. The firm has a 50 day simple moving average of $9.88 and a two-hundred day simple moving average of $11.43. The firm has a market cap of $64.57 million, a price-to-earnings ratio of -0.53 and a beta of 1.77.

Allbirds (NASDAQ:BIRD) last released its earnings results on Wednesday, November 6th. The company reported ($2.68) EPS for the quarter, topping the consensus estimate of ($3.13) by $0.45. The firm had revenue of $43.00 million for 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 quarter in the previous year, the firm earned ($4.20) earnings per share. Sell-side analysts forecast that Allbirds will post -11.89 EPS for the current year.

Insider Buying and Selling

In other Allbirds news, CEO Joseph Vernachio sold 2,367 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $12.00, for a total transaction of $28,404.00. Following the sale, the chief executive officer now owns 43,536 shares in the company, valued at approximately $522,432. This trade represents a 5.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 45.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Allbirds

An institutional investor recently bought a new position in Allbirds stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Allbirds, Inc. (NASDAQ:BIRD) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 129,694 shares of the company’s stock, valued at approximately $65,000. Point72 Asia Singapore Pte. Ltd. owned about 0.08% of Allbirds as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 44.07% of the company’s stock.

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.