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

Allbirds, Inc. (NASDAQ:BIRD) was the recipient of a large growth in short interest in April. As of April 30th, there was short interest totaling 1,108,752 shares, a growth of 156.5% from the April 15th total of 432,322 shares. Based on an average trading volume of 6,818,654 shares, the days-to-cover ratio is presently 0.2 days. Currently, 18.4% of the company’s stock are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Performa Ltd US LLC boosted its holdings in shares of Allbirds by 36.2% in the first quarter. Performa Ltd US LLC now owns 25,000 shares of the company’s stock valued at $75,000 after acquiring an additional 6,650 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Allbirds by 46.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 34,931 shares of the company’s stock valued at $143,000 after acquiring an additional 11,100 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Allbirds in the fourth quarter valued at about $54,000. Susquehanna International Group LLP purchased a new stake in shares of Allbirds in the third quarter valued at about $59,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Allbirds by 4.9% in the third quarter. Vanguard Group Inc. now owns 243,983 shares of the company’s stock valued at $1,383,000 after acquiring an additional 11,459 shares in the last quarter. 44.07% of the stock is owned by hedge funds and other institutional investors.

Allbirds Stock Performance

Allbirds stock traded down $0.10 during midday trading on Friday, hitting $4.41. 495,607 shares of the company’s stock were exchanged, compared to its average volume of 2,565,918. Allbirds has a 12-month low of $2.15 and a 12-month high of $24.31. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.06 and a current ratio of 2.02. The stock has a market cap of $38.41 million, a price-to-earnings ratio of -0.48 and a beta of 2.72. The firm’s 50 day simple moving average is $4.83 and its 200 day simple moving average is $4.62.

Allbirds (NASDAQ:BIRD) last issued its quarterly earnings data on Monday, April 20th. The company reported ($2.37) earnings per share (EPS) for the quarter. Allbirds had a negative return on equity of 127.72% and a negative net margin of 50.69%.The business had revenue of $22.32 million for the quarter.

Analyst Ratings Changes

BIRD has been the topic of several research analyst reports. Weiss Ratings lowered shares of Allbirds from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 1st. Maxim Group lowered shares of Allbirds from a “buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Finally, Wall Street Zen lowered shares of Allbirds from a “hold” rating to a “sell” rating in a research note on Saturday. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Allbirds presently has a consensus rating of “Reduce” and an average price target of $8.00.

Allbirds Company Profile

Allbirds, Inc is a sustainable lifestyle company specializing in environmentally friendly footwear and apparel. The company’s core business centers on designing, manufacturing, and selling shoes that leverage natural and recycled materials to minimize ecological impact. Allbirds’ product portfolio includes lifestyle sneakers, running shoes, and casual slip-ons, all engineered for comfort, durability, and low carbon footprint.

The company’s signature offerings include the Wool Runner series, crafted from New Zealand merino wool, and the Tree line, which uses eucalyptus fiber.