Allbirds (NASDAQ:BIRD) Stock Price Up 4.5% - Here's What Happened

Shares of Allbirds, Inc. (NASDAQ:BIRD - Get Free Report) rose 4.5% during trading on Monday . The stock traded as high as $10.27 and last traded at $10.24. Approximately 28,875 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 53,833 shares. The stock had previously closed at $9.80.

Allbirds Price Performance

The firm's 50 day moving average price is $12.15 and its two-hundred day moving average price is $12.12. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -10.53 and a beta of 1.78.

Allbirds (NASDAQ:BIRD - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $51.58 million during the quarter, compared to analysts' expectations of $50.34 million. Allbirds had a negative return on equity of 61.22% and a negative net margin of 61.24%. During the same quarter in the prior year, the business posted ($3.60) earnings per share. On average, analysts anticipate that Allbirds, Inc. will post -12.57 earnings per share for the current year.

Insider Buying and Selling at Allbirds

In other Allbirds news, CEO Joseph Vernachio sold 2,367 shares of Allbirds stock in a transaction dated 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 $522,432. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Allbirds 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 completion of the transaction, the chief executive officer now owns 43,536 shares in the company, valued at $522,432. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy O. Brown sold 2,500 shares of the firm's stock in a transaction dated 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. In the last ninety days, insiders have sold 5,742 shares of company stock worth $68,404. Corporate insiders own 45.50% of the company's stock.

Hedge Funds Weigh In On Allbirds

An institutional investor recently bought a new position in Allbirds stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in Allbirds, Inc. (NASDAQ:BIRD - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 129,694 shares of the company's stock, valued at approximately $65,000. Point72 Asia Singapore Pte. Ltd. owned approximately 0.08% of Allbirds as of its most recent filing with the SEC. Hedge funds and other 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.