Allbirds (NASDAQ:BIRD) Trading Up 8.2% – Here’s Why

Allbirds, Inc. (NASDAQ:BIRD) rose 8.2% during mid-day trading on Monday . The stock traded as high as $11.34 and last traded at $11.30. Approximately 24,027 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 54,535 shares. The stock had previously closed at $10.44.

Allbirds Stock Up 1.2 %

The company has a market cap of $1.76 billion, a P/E ratio of -11.73 and a beta of 1.78. The business has a fifty day moving average of $11.71 and a 200 day moving average of $12.03.

Allbirds (NASDAQ:BIRD) last announced its earnings results on Wednesday, August 7th. The company reported ($2.40) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $51.58 million during the quarter, compared to analyst estimates of $50.34 million. During the same quarter in the prior year, the company earned ($3.60) EPS. On average, sell-side analysts anticipate that Allbirds, Inc. will post -12.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Timothy O. Brown sold 2,500 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $11.80, for a total transaction of $29,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Allbirds news, CEO Joseph Vernachio sold 2,367 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $12.00, for a total value of $28,404.00. Following the completion of the sale, the chief executive officer now owns 43,536 shares in the company, valued at approximately $522,432. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Timothy O. Brown sold 2,500 shares of Allbirds 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 disclosure for this sale can be found here. Insiders sold a total of 5,742 shares of company stock worth $68,404 in the last three months. 45.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Allbirds stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Allbirds, Inc. (NASDAQ:BIRD) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 129,694 shares of the company’s stock, valued at approximately $65,000. Point72 Asia Singapore Pte. Ltd. owned 0.08% of Allbirds as of its most recent filing with the Securities and Exchange Commission (SEC). 44.07% of the stock is currently owned by institutional investors and hedge funds.

About Allbirds

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.