Allbirds, Inc. (NASDAQ:BIRD) Short Interest Update

Key Points

• Short interest plunged 58.5% in April to 432,322 shares (about 7.2% of shares shorted), with a reported short-interest ratio of 0.0 days due to very high average daily volume.
• Allbirds reported a quarterly loss of $2.34 EPS
• Analysts' consensus is subdued — the stock's average rating is "Reduce" with an average target of $8.00, while institutional investors own roughly 44% of the company.

Allbirds, Inc. (NASDAQ:BIRD - Get Free Report) was the recipient of a significant drop in short interest in the month of April. As of April 15th, there was short interest totaling 432,322 shares, a drop of 58.5% from the March 31st total of 1,041,526 shares. Approximately 7.2% of the shares of the stock are short sold. Based on an average daily volume of 28,072,797 shares, the short-interest ratio is presently 0.0 days.

Allbirds Stock Performance

NASDAQ:BIRD opened at $7.02 on Friday. Allbirds has a 1 year low of $2.15 and a 1 year high of $24.31. The firm has a 50 day moving average of $4.10 and a 200-day moving average of $4.70. The company has a current ratio of 2.02, a quick ratio of 1.06 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $61.13 million, a P/E ratio of -0.74 and a beta of 1.85.

Allbirds (NASDAQ:BIRD - Get Free Report) last posted its earnings results on Tuesday, March 31st. The company reported ($2.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.25) by ($0.09). Allbirds had a negative net margin of 50.69% and a negative return on equity of 127.72%. The firm had revenue of $47.68 million during the quarter, compared to the consensus estimate of $56.31 million.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Maxim Group cut shares of Allbirds from a "buy" rating to a "hold" rating in a research note on Wednesday, February 4th. Weiss Ratings restated a "sell (d-)" rating on shares of Allbirds in a research note on Wednesday, January 21st. Finally, Wall Street Zen upgraded shares of Allbirds from a "sell" rating to a "hold" rating in a research note on Saturday, April 18th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $8.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BIRD. Finley Financial LLC bought a new position in Allbirds in the 3rd quarter worth approximately $28,000. Jane Street Group LLC bought a new position in Allbirds in the 4th quarter worth approximately $54,000. Susquehanna International Group LLP bought a new position in Allbirds in the 3rd quarter worth approximately $59,000. Performa Ltd US LLC bought a new position in Allbirds in the 3rd quarter worth approximately $74,000. Finally, Bridgeway Capital Management LLC raised its position in Allbirds by 46.6% in the 4th quarter. Bridgeway Capital Management LLC now owns 34,931 shares of the company's stock worth $143,000 after purchasing an additional 11,100 shares during the last quarter. Institutional investors own 44.07% of the company's stock.

About Allbirds

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.

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