Short Interest in Allbirds, Inc. (NASDAQ:BIRD) Decreases By 6.4%

Allbirds, Inc. (NASDAQ:BIRD – Get Rating) was the recipient of a significant decrease in short interest in December. As of December 30th, there was short interest totalling 6,110,000 shares, a decrease of 6.4% from the December 15th total of 6,530,000 shares. Approximately 6.4% of the shares of the stock are short sold. Based on an average trading volume of 1,530,000 shares, the days-to-cover ratio is presently 4.0 days.

Allbirds Stock Up 0.7 %

Allbirds stock opened at $2.70 on Wednesday. The business’s 50-day simple moving average is $2.62 and its 200 day simple moving average is $3.49. The stock has a market cap of $403.25 million, a price-to-earnings ratio of -4.43 and a beta of 1.79. Allbirds has a 12-month low of $2.14 and a 12-month high of $12.92.

Allbirds (NASDAQ:BIRD – Get Rating) last posted its quarterly earnings results on Tuesday, November 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.02. The business had revenue of $72.65 million for the quarter, compared to analysts’ expectations of $67.27 million. Allbirds had a negative return on equity of 19.91% and a negative net margin of 27.97%. As a group, sell-side analysts expect that Allbirds will post -0.54 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BIRD shares. Stifel Nicolaus dropped their price objective on Allbirds from $5.00 to $4.00 in a research note on Wednesday, November 9th. Robert W. Baird dropped their price objective on Allbirds from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Wednesday, November 9th. Piper Sandler lowered Allbirds from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $5.00 to $4.00 in a research note on Thursday, January 5th. Morgan Stanley dropped their price objective on Allbirds from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 22nd. Finally, Guggenheim dropped their price objective on Allbirds to $9.00 in a research note on Tuesday, November 15th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Allbirds currently has a consensus rating of “Hold” and an average price target of $7.15.

Hedge Funds Weigh In On Allbirds

Several hedge funds have recently added to or reduced their stakes in BIRD. Aspiriant LLC bought a new position in Allbirds in the fourth quarter valued at about $26,000. Centaurus Financial Inc. bought a new position in Allbirds in the third quarter valued at about $31,000. Victory Capital Management Inc. bought a new position in Allbirds during the third quarter worth about $32,000. Performa Ltd US LLC boosted its holdings in Allbirds by 131.6% during the third quarter. Performa Ltd US LLC now owns 11,000 shares of the company’s stock worth $33,000 after buying an additional 6,250 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Allbirds during the third quarter worth about $33,000. Institutional investors own 33.14% of the company’s stock.

About Allbirds

(Get Rating)

Allbirds, Inc manufactures and sells footwear and apparel products for men and women. It offers shoes, such as running shoes, everyday sneakers, high-tops, slip-ons, boat shoes, flats, weather repellent shoes, and sandals. The company's apparel products include activewear, tops, bottoms, dresses, sweaters, underwear, and socks.