Allbirds (NASDAQ:BIRD) Trading Down 3.4%

Allbirds, Inc. (NASDAQ:BIRD) shares traded down 3.4% during mid-day trading on Wednesday . The stock traded as low as $12.27 and last traded at $12.27. 3,516 shares were traded during mid-day trading, a decline of 94% from the average session volume of 55,543 shares. The stock had previously closed at $12.70.

Allbirds Stock Up 3.6 %

The firm has a 50 day simple moving average of $12.87 and a 200-day simple moving average of $12.74. The company has a market cap of $1.99 billion, a PE ratio of -13.47 and a beta of 1.79.

Allbirds (NASDAQ:BIRD) last posted its earnings results on Wednesday, August 7th. The company reported ($2.40) earnings per share (EPS) for the quarter, beating 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 company had revenue of $51.58 million for the quarter, compared to analyst estimates of $50.34 million. During the same quarter in the previous year, the firm earned ($3.60) earnings per share. As a group, equities analysts anticipate that Allbirds, Inc. will post -12.2 EPS for the current year.

Insider Activity at Allbirds

In related news, 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 sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Joseph Vernachio sold 2,367 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 43,536 shares in the company, valued at $522,432. The sale was disclosed in a legal filing with the SEC, which is available 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 shares were 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 have sold a total of 5,742 shares of company stock worth $68,404 over the last quarter. Insiders own 45.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in Allbirds in the second quarter valued at approximately $65,000. Coldstream Capital Management Inc. acquired a new position in shares of Allbirds during the 4th quarter worth approximately $274,000. CastleKnight Management LP acquired a new position in shares of Allbirds during the 4th quarter worth approximately $348,000. Finally, Laidlaw Wealth Management LLC acquired a new position in shares of Allbirds during the 4th quarter worth approximately $751,000. 44.07% of the stock is 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.