Allbirds (NASDAQ:BIRD) Trading Down 3.6%

Shares of Allbirds, Inc. (NASDAQ:BIRD) dropped 3.6% during trading on Thursday . The company traded as low as $13.01 and last traded at $13.30. Approximately 27,676 shares changed hands during trading, a decline of 51% from the average daily volume of 56,080 shares. The stock had previously closed at $13.79.

Allbirds Trading Down 3.6 %

The company has a market capitalization of $2.07 billion, a P/E ratio of -13.71 and a beta of 1.79. The company’s fifty day moving average is $12.66 and its 200 day moving average is $12.96.

Allbirds (NASDAQ:BIRD) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($2.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.60) by $1.20. Allbirds had a negative return on equity of 61.22% and a negative net margin of 61.24%. The company had revenue of $51.58 million for the quarter, compared to analyst estimates of $50.34 million. During the same period in the previous year, the company posted ($3.60) EPS. Equities research analysts predict that Allbirds, Inc. will post -12.2 EPS for the current year.

Insider Activity at Allbirds

In other Allbirds news, Director Timothy O. Brown sold 2,500 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $11.80, for a total transaction of $29,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Joseph Vernachio sold 2,367 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $12.00, for a total value of $28,404.00. Following the sale, the chief executive officer now directly owns 43,536 shares of the company’s stock, valued at approximately $522,432. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy O. Brown sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $11.80, for a total value of $29,500.00. The disclosure for this sale can be found here. Insiders sold 5,742 shares of company stock worth $68,404 in the last ninety days. 45.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allbirds

Hedge funds have recently added to or reduced their stakes in the company. Laidlaw Wealth Management LLC purchased a new position in shares of Allbirds in the 4th quarter worth $751,000. CastleKnight Management LP purchased a new position in Allbirds in the fourth quarter worth about $348,000. Coldstream Capital Management Inc. bought a new stake in shares of Allbirds during the 4th quarter valued at about $274,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Allbirds during the 2nd quarter valued at about $65,000. 44.07% of the stock is currently owned by hedge funds and other institutional investors.

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.