Short Interest in Allbirds, Inc. (NASDAQ:BIRD) Decreases By 11.0%

Allbirds, Inc. (NASDAQ:BIRD) saw a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 8,910,000 shares, a decline of 11.0% from the June 30th total of 10,010,000 shares. Based on an average daily volume of 1,300,000 shares, the short-interest ratio is presently 6.9 days. Currently, 8.7% of the company’s shares are short sold.

Allbirds Price Performance

Shares of BIRD traded down $0.03 during trading hours on Tuesday, reaching $0.61. The company’s stock had a trading volume of 590,456 shares, compared to its average volume of 1,113,347. The company has a 50 day moving average of $0.59 and a two-hundred day moving average of $0.72. Allbirds has a 1-year low of $0.45 and a 1-year high of $1.76.

Allbirds (NASDAQ:BIRD) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.03. Allbirds had a negative net margin of 60.50% and a negative return on equity of 57.15%. The firm had revenue of $39.33 million for the quarter, compared to the consensus estimate of $39.73 million. Equities research analysts expect that Allbirds will post -0.66 EPS for the current fiscal year.

Insider Transactions at Allbirds

In other Allbirds news, CFO Ann Mitchell sold 62,486 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $0.56, for a total transaction of $34,992.16. Following the completion of the sale, the chief financial officer now directly owns 812,024 shares of the company’s stock, valued at $454,733.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 45.50% of the stock is owned by insiders.

Institutional Trading of Allbirds

Hedge funds and other institutional investors have recently modified their holdings of the company. Coldstream Capital Management Inc. purchased a new stake in shares of Allbirds during the 4th quarter worth about $274,000. Arnhold LLC raised its position in Allbirds by 20.5% during the fourth quarter. Arnhold LLC now owns 272,905 shares of the company’s stock valued at $334,000 after acquiring an additional 46,350 shares in the last quarter. CastleKnight Management LP acquired a new stake in Allbirds in the fourth quarter valued at approximately $348,000. Finally, Laidlaw Wealth Management LLC acquired a new stake in Allbirds in the fourth quarter valued at approximately $751,000. 44.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wedbush reduced their target price on Allbirds from $0.90 to $0.70 and set a “neutral” rating for the company in a report on Thursday, May 9th.

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.