There was a significant reduction in the number of short positions taken on Allbirds, Inc. during December (NASDAQ: BIRD). As of December 15, there was a total short interest of 6,530,000 shares, representing a decrease of 21.3% from the 8,300,000 shares that were shorted as of November 30. Currently, 6.9% of the company’s shares are traded on the short market. As of right now, the days-to-cover ratio is sitting at 4.1 days, which is based on the fact that the market sees an average daily volume of 1,610,000 shares.
On November 8, 2018, Allbirds (NASDAQ: BIRD) shared its most recent quarterly earnings report with the investing community. The company announced that its earnings per share for the preceding quarter came in at $0.15, which is $0.02 more than market analysts had anticipated for earnings per share for the preceding quarter ($0.17 per share). The return on equity for Allbirds came in at 19.91%, and the company had a negative net margin of 27.37% of its revenue. In comparison, market experts anticipated that the company would bring in revenue of $67.27 million for the quarter, but the actual amount was $72.65 million. Sell-side analysts estimate Allbirds will have earnings per share (EPS) for the current fiscal year equal to or less than -0.54 cents.
In recent months, the company’s stock market has been the focus of activity from several major investors, who have been buying and selling shares. During the third quarter of 2018, Centaurus Financial Inc. invested in Allbirds worth $31,000. Victory Capital Management Inc. put approximately 32,000 dollars into a new investment in Allbirds during the third quarter of this fiscal year. Performa Ltd. US LLC acquired an additional 131.6% of the available shares in Allbirds during the third quarter. Performa Ltd. US LLC now has 11,000 shares of the company’s stock, valued at $33,000, after purchasing an additional 6,250 shares during the most recent quarter. This brings the total number of shares owned by the company to 11. The Swiss National Bank, also known as Zurich Cantonalbank, increased the size of its holdings in Allbirds during the third quarter by investing an additional $33,000 to purchase additional shares. The last part of the procedure occurred during the third quarter of the year when International Assets Investment Management LLC added a new Allbirds investment to its existing portfolio of holdings. This investment was worth approximately $34,000 at its peak value. The company’s stock is owned collectively by hedge funds and other types of institutional investors to the extent of 33.14 percent.
Following a rise of $0.05 in value throughout Friday’s trading session, the price of NASDAQ BIRD reached $2.42. The previous volume of 1,224,883 shares was higher than the current volume of 1,666,695 shares traded in the company’s stock. As a result, the average volume of trading was 1,666,695 shares. All birds stock hit a 52-week low of $2.14 during the year, while it reached a 52-week high of $16.78. The simple moving average of the company’s stock price over the past 50 days is $2.83, and the average price over the past 200 days is $3.73.
Several seasoned stock market professionals have expressed an interest in the BIRD stock due to recent events.
In a research note that was published on November 22, Morgan Stanley announced that they would be lowering their price objective for Allbirds shares from $5.00 to $4.00 and that they would be rating the company as “equal weight.” In a research note published on November 9, Telsey Advisory Group lowered their “outperform” rating that they had previously assigned to Allbirds shares and their target price, which had previously been set at $7.00. The new target price is $5.00. Guggenheim lowered their price objective for Allbirds stock to $9.00 in a research report that was made public on November 15 and released on Tuesday. In a report distributed on November 15, Piper Sandler lowered their price objective on Allbirds shares, bringing it down to $5.00 from their previous level of $8.00. Finally, Robert W. Baird lowered their price target on shares of Allbirds from $8.00 to $7.00 while maintaining an “outperform” rating on the stock in a research note published on Wednesday, November 9. Seven market analysts have assigned the company a buy rating, while six have suggested that shareholders maintain their current holdings of the company’s stock. According to the data made available by Bloomberg, the company is presently regarded as having an overall consensus recommendation of “Moderate Buy,” and the average price goal analysts have established for the stock is $8.43.
Allbirds, Inc. is a retailer and manufacturer of footwear and apparel for both men and women, including clothing and footwear. Their products can be found in stores all over the world. Many types of footwear are available for purchase, including sandals, high tops, slip-on, boat shoes, flats, and regular sneakers, to name just a few of the options. In addition, the company’s clothing collection includes sportswear, tops, bottoms, skirts, sweaters, undergarments, and socks, all of which can be purchased individually or as part of a set.
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