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

Allbirds, Inc. (NASDAQ:BIRD - Get Free Report) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 10,090,000 shares, an increase of 17.7% from the February 29th total of 8,570,000 shares. Based on an average daily volume of 938,600 shares, the short-interest ratio is presently 10.8 days. Currently, 10.4% of the company's stock are short sold.

Analysts Set New Price Targets

Several brokerages have commented on BIRD. Telsey Advisory Group reiterated a "market perform" rating and set a $1.00 target price on shares of Allbirds in a research note on Wednesday, March 6th. Wedbush cut their target price on Allbirds from $1.00 to $0.90 and set a "neutral" rating on the stock in a research note on Wednesday, March 13th. Finally, Piper Sandler cut their target price on Allbirds from $1.60 to $1.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 13th.

Hedge Funds Weigh In On Allbirds

Institutional investors and hedge funds have recently modified their holdings of the company. Captrust Financial Advisors raised its holdings in Allbirds by 90.8% in the 1st quarter. Captrust Financial Advisors now owns 6,514 shares of the company's stock worth $39,000 after purchasing an additional 3,100 shares during the period. Avalon Investment & Advisory bought a new position in Allbirds in the 1st quarter worth $63,000. Point72 Hong Kong Ltd bought a new position in Allbirds in the 2nd quarter worth $43,000. Point72 Middle East FZE bought a new position in Allbirds in the 4th quarter worth $28,000. Finally, Quantbot Technologies LP bought a new position in Allbirds in the 1st quarter worth $69,000. 44.07% of the stock is currently owned by hedge funds and other institutional investors.

Allbirds Stock Performance

Shares of BIRD stock traded up $0.04 on Friday, reaching $0.69. The stock had a trading volume of 1,294,747 shares, compared to its average volume of 1,309,270. The stock has a market cap of $107.72 million, a P/E ratio of -0.69 and a beta of 1.88. Allbirds has a 1 year low of $0.61 and a 1 year high of $1.83. The company has a 50 day simple moving average of $0.89 and a 200 day simple moving average of $0.98.

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.