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

Allbirds, Inc. (NASDAQ:BIRD - Get Free Report) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 11,340,000 shares, a growth of 13.1% from the March 31st total of 10,030,000 shares. Based on an average daily trading volume, of 1,040,000 shares, the days-to-cover ratio is presently 10.9 days. Approximately 11.7% of the shares of the company are sold short.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BIRD shares. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $1.00 price target on shares of Allbirds in a research report on Wednesday, March 6th. Piper Sandler lowered their target price on Allbirds from $1.60 to $1.00 and set a "neutral" rating on the stock in a report on Wednesday, March 13th. Finally, Wedbush cut their price target on Allbirds from $1.00 to $0.90 and set a "neutral" rating for the company in a report on Wednesday, March 13th.

Allbirds Stock Performance

Shares of NASDAQ:BIRD traded up $0.02 on Monday, hitting $0.63. 725,363 shares of the company were exchanged, compared to its average volume of 1,002,258. The company's 50 day moving average price is $0.73 and its two-hundred day moving average price is $0.91. Allbirds has a one year low of $0.54 and a one year high of $1.83. The firm has a market capitalization of $98.36 million, a price-to-earnings ratio of -0.63 and a beta of 1.82.

Allbirds (NASDAQ:BIRD - Get Free Report) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.22) EPS for the quarter, meeting the consensus estimate of ($0.22). The firm had revenue of $71.99 million during the quarter, compared to analysts' expectations of $68.88 million. Allbirds had a negative return on equity of 51.83% and a negative net margin of 60.01%. Research analysts predict that Allbirds will post -0.7 earnings per share for the current year.

Institutional Trading of Allbirds

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIRD. FMR LLC grew its stake in shares of Allbirds by 64.9% in the 3rd quarter. FMR LLC now owns 9,827,176 shares of the company's stock valued at $10,908,000 after purchasing an additional 3,868,839 shares during the period. Laidlaw Wealth Management LLC bought a new stake in Allbirds in the fourth quarter valued at $751,000. CastleKnight Management LP acquired a new position in Allbirds during the fourth quarter worth $348,000. Coldstream Capital Management Inc. acquired a new position in Allbirds during the fourth quarter worth $274,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Allbirds during the third quarter valued at $209,000. Institutional investors own 44.07% of the company's stock.

Allbirds Company Profile

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.