Allbirds (NASDAQ:BIRD) Trading Down 4.6%

Allbirds, Inc. (NASDAQ:BIRD) shares were down 4.6% during mid-day trading on Thursday . The company traded as low as $11.91 and last traded at $11.91. Approximately 3,830 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 55,276 shares. The stock had previously closed at $12.49.

Allbirds Stock Performance

The company’s 50 day simple moving average is $3.87 and its 200 day simple moving average is $1.76. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -13.15 and a beta of 1.79.

Allbirds (NASDAQ:BIRD) last announced its earnings results on Wednesday, August 7th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.06. The firm had revenue of $51.58 million for the quarter, compared to analysts’ expectations of $50.34 million. Allbirds had a negative return on equity of 61.22% and a negative net margin of 61.24%. During the same quarter in the previous year, the company earned ($0.18) earnings per share. Sell-side analysts predict that Allbirds, Inc. will post -12.27 EPS for the current year.

Insider Activity

In other Allbirds news, Director Timothy O. Brown sold 50,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $0.59, for a total value of $29,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Joseph Vernachio sold 47,340 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $0.60, for a total transaction of $28,404.00. Following the sale, the chief executive officer now owns 870,720 shares in the company, valued at $522,432. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy O. Brown sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $0.59, for a total transaction of $29,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,840 shares of company stock worth $68,404. Corporate insiders own 45.50% of the company’s stock.

Institutional Trading of Allbirds

Several large investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Allbirds in the second quarter worth $65,000. CastleKnight Management LP purchased a new stake in Allbirds in the 4th quarter worth about $348,000. Finally, Laidlaw Wealth Management LLC purchased a new stake in Allbirds in the 4th quarter worth about $751,000. 44.07% of the stock is owned by institutional investors and hedge funds.

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.