Short Interest in Allbirds, Inc. (NASDAQ:BIRD) Increases By 13.1%

Allbirds, Inc. (NASDAQ:BIRD) was the target of a large growth in short interest in 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. Approximately 11.7% of the company’s stock are short sold. Based on an average trading volume of 1,040,000 shares, the days-to-cover ratio is currently 10.9 days.

Analysts Set New Price Targets

BIRD has been the topic of several recent research reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $1.00 target price on shares of Allbirds in a research report on Wednesday, March 6th. Wedbush dropped their target price on Allbirds from $1.00 to $0.90 and set a “neutral” rating on the stock in a research report on Wednesday, March 13th. Finally, Piper Sandler dropped their target price on Allbirds from $1.60 to $1.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 13th.

Hedge Funds Weigh In On Allbirds

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BIRD. FMR LLC increased its stake in shares of Allbirds by 64.9% in the third quarter. FMR LLC now owns 9,827,176 shares of the company’s stock worth $10,908,000 after acquiring an additional 3,868,839 shares during the period. Laidlaw Wealth Management LLC acquired a new position in shares of Allbirds during the fourth quarter valued at approximately $751,000. CastleKnight Management LP acquired a new position in shares of Allbirds during the fourth quarter valued at approximately $348,000. Arnhold LLC raised its holdings in shares of Allbirds by 20.5% during the fourth quarter. Arnhold LLC now owns 272,905 shares of the company’s stock valued at $334,000 after acquiring an additional 46,350 shares during the last quarter. Finally, Coldstream Capital Management Inc. acquired a new position in shares of Allbirds during the fourth quarter valued at approximately $274,000. Hedge funds and other institutional investors own 44.07% of the company’s stock.

Allbirds Stock Up 3.5 %

Shares of Allbirds stock traded up $0.02 during trading on Monday, reaching $0.63. The company’s stock had a trading volume of 722,359 shares, compared to its average volume of 1,002,257. Allbirds has a 1-year low of $0.54 and a 1-year high of $1.83. The company has a 50-day simple moving average of $0.74 and a two-hundred day simple moving average of $0.91.

Allbirds (NASDAQ:BIRD) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.22) earnings per share for the quarter, hitting analysts’ consensus estimates 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%. Equities research analysts forecast that Allbirds will post -0.7 EPS for the current fiscal year.

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.