Allbirds, Inc. (NASDAQ:BIRD) Short Interest Down 11.0% in July

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Allbirds

In other news, CFO Ann Mitchell sold 62,486 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $0.56, for a total transaction of $34,992.16. Following the completion of the transaction, 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 can be accessed through this link. Company insiders own 45.50% of the company’s stock.

Institutional Trading of Allbirds

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

Allbirds Price Performance

Shares of NASDAQ:BIRD traded down $0.03 during midday trading on Tuesday, reaching $0.61. The company had a trading volume of 590,456 shares, compared to its average volume of 1,113,347. Allbirds has a 1-year low of $0.45 and a 1-year high of $1.76. The business’s 50 day moving average price is $0.59 and its 200 day moving average price is $0.72.

Allbirds (NASDAQ:BIRD) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.03. The firm had revenue of $39.33 million for the quarter, compared to analyst estimates of $39.73 million. Allbirds had a negative return on equity of 57.15% and a negative net margin of 60.50%. As a group, sell-side analysts forecast that Allbirds will post -0.66 EPS for the current fiscal 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.