Allbirds, Inc. (NASDAQ:BIRD) Sees Large Drop in Short Interest

Allbirds, Inc. (NASDAQ:BIRD) was the recipient of a large decrease in short interest in the month of April. As of April 15th, there was short interest totaling 432,322 shares, a decrease of 58.5% from the March 31st total of 1,041,526 shares. Based on an average daily trading volume, of 28,072,797 shares, the short-interest ratio is currently 0.0 days. Currently, 7.2% of the company’s stock are short sold.

Institutional Investors Weigh In On Allbirds

Several institutional investors have recently modified their holdings of BIRD. Finley Financial LLC acquired a new position in shares of Allbirds during the third quarter worth $28,000. Susquehanna International Group LLP acquired a new stake in Allbirds in the third quarter valued at $59,000. Performa Ltd US LLC purchased a new stake in Allbirds during the 3rd quarter worth about $74,000. Jane Street Group LLC purchased a new stake in Allbirds during the 4th quarter worth about $54,000. Finally, PDT Partners LLC boosted its position in shares of Allbirds by 30.0% during the 2nd quarter. PDT Partners LLC now owns 15,344 shares of the company’s stock worth $163,000 after acquiring an additional 3,545 shares in the last quarter. 44.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on BIRD shares. Maxim Group cut shares of Allbirds from a “buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allbirds in a research report on Wednesday, January 21st. Finally, Wall Street Zen upgraded 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $8.00.

Allbirds Stock Performance

Shares of Allbirds stock opened at $7.02 on Monday. The business has a 50-day simple moving average of $4.10 and a 200-day simple moving average of $4.68. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.06 and a current ratio of 2.02. Allbirds has a one year low of $2.15 and a one year high of $24.31. The company has a market cap of $61.14 million, a PE ratio of -0.74 and a beta of 1.85.

Allbirds (NASDAQ:BIRD) last issued its earnings results on Tuesday, March 31st. The company reported ($2.34) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $56.31 million.

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.