Allbirds (NASDAQ:BIRD) Shares Gap Down to $11.44

Allbirds, Inc. (NASDAQ:BIRD)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $11.44, but opened at $10.88. Allbirds shares last traded at $11.20, with a volume of 19,145 shares changing hands.

Allbirds Stock Up 10.7 %

The business’s 50 day moving average price is $12.53 and its 200-day moving average price is $13.19. The company has a market cap of $1.67 billion, a PE ratio of -11.29 and a beta of 1.79.

Allbirds (NASDAQ:BIRD) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($2.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.60) by $1.20. Allbirds had a negative net margin of 61.24% and a negative return on equity of 61.22%. The business had revenue of $51.58 million during the quarter, compared to analyst estimates of $50.34 million. During the same period last year, the business earned ($3.60) EPS. Equities analysts expect that Allbirds, Inc. will post -0.61 earnings per share for the current year.

Insider Activity

In other Allbirds news, Director Timothy O. Brown sold 2,500 shares of Allbirds stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $11.80, for a total transaction of $29,500.00. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Timothy O. Brown sold 2,500 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $11.80, for a total transaction of $29,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph Vernachio sold 2,367 shares of the firm’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 transaction of $28,404.00. Following the sale, the chief executive officer now directly owns 43,536 shares of the company’s stock, valued at approximately $522,432. The disclosure for this sale can be found here. Insiders sold 5,742 shares of company stock worth $68,404 over the last ninety days. Corporate insiders own 45.50% of the company’s stock.

Institutional Investors Weigh In On Allbirds

A number of institutional investors have recently modified their holdings of BIRD. Laidlaw Wealth Management LLC bought a new position in shares of Allbirds during the fourth quarter worth about $751,000. CastleKnight Management LP acquired a new stake in Allbirds during the fourth quarter valued at approximately $348,000. Coldstream Capital Management Inc. bought a new position in Allbirds during the 4th quarter worth approximately $274,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Allbirds during the 2nd quarter worth approximately $65,000. Institutional investors and hedge funds 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.