Allbirds (NASDAQ:BIRD) Shares to Reverse Split on Thursday, September 5th

Shares of Allbirds, Inc. (NASDAQ:BIRD) are going to reverse split before the market opens on Thursday, September 5th. The 1-20 reverse split was announced on Friday, August 30th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, September 4th.

Allbirds Stock Down 1.4 %

BIRD opened at $0.71 on Friday. The firm has a market capitalization of $110.09 million, a P/E ratio of -0.74 and a beta of 1.76. The stock’s 50 day moving average price is $0.64 and its two-hundred day moving average price is $0.67. Allbirds has a 12-month low of $0.45 and a 12-month high of $1.46.

Allbirds (NASDAQ:BIRD) last released its earnings results on Wednesday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.06. The firm had revenue of $51.58 million for the quarter, compared to analyst estimates of $50.34 million. Allbirds had a negative return on equity of 57.15% and a negative net margin of 60.50%. During the same quarter last year, the firm posted ($0.18) EPS. As a group, analysts anticipate that Allbirds will post -0.66 earnings per share for the current year.

Analyst Ratings Changes

Separately, Wedbush decreased their price objective on Allbirds from $0.90 to $0.70 and set a “neutral” rating on the stock in a report on Thursday, May 9th.

Insider Transactions at Allbirds

In other news, Director Timothy O. Brown sold 50,000 shares of Allbirds stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $0.59, for a total transaction of $29,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Ann Mitchell sold 62,486 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $0.56, for a total transaction of $34,992.16. Following the completion of the transaction, the chief financial officer now owns 812,024 shares in the company, valued at approximately $454,733.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy O. Brown sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $0.59, for a total value of $29,500.00. The disclosure for this sale can be found here. 45.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Allbirds

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Allbirds during the 2nd quarter worth approximately $65,000. CastleKnight Management LP bought a new position in Allbirds in the 4th quarter valued at $348,000. Laidlaw Wealth Management LLC bought a new position in Allbirds in the 4th quarter valued at $751,000. Finally, Coldstream Capital Management Inc. bought a new position in Allbirds in the 4th quarter valued at $274,000. Institutional investors own 44.07% of the company’s stock.

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.