Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Allbirds Inc shares valued at $21,661 were sold by Vernachio Joseph on Mar 01 ’24. At $0.91 per share, Vernachio Joseph sold 23,935 shares. The insider’s holdings dropped to 321,740 shares worth approximately $0.2 million following the completion of this transaction.
Also, Vernachio Joseph sold 17,341 shares, netting a total of over 18,173 in proceeds. Following the sale of shares at $1.05 each, the insider now holds 345,675 shares.
Before that, Mitchell Ann had added 10,000 shares to its account. In a trade valued at $6,800, the Chief Financial Officer bought Allbirds Inc shares for $0.68 each. Upon closing the transaction, the insider’s holdings increased to 10,000 shares, worth approximately $0.53 million.
As published in a research note from Telsey Advisory Group on May 01, 2023, Allbirds Inc [BIRD] has been rated up from a Market perform to an Outperform and the price target has been revised to $1.50. Analysts at TD Cowen downgraded the stock from ‘”an Outperform”‘ to ‘”a Market perform”‘ outlook in a report released in mid March. As of March 10, 2023, William Blair has decreased its “an Outperform” rating to a “Mkt perform” for BIRD. Earlier on March 10, 2023, Telsey Advisory Group downgraded its rating. Their new recommendation was “a Market perform” for BIRD stock which previously was a “an Outperform”.
Analyzing BIRD Stock Performance
During the last five days, there has been a surge of approximately 2.82%. Over the course of the year, Allbirds Inc shares have dropped approximately -48.80%. Shares of the company reached a 52-week high of $1.4000 on 01/02/24 and a 52-week low of $0.6000 on 04/11/24. A 50-day SMA is recorded $0.8250, while a 200-day SMA reached $1.0729. Nevertheless, trading volume fell to 2.11 million shares from 0.78 million shares the previous day.
Support And Resistance Levels for Allbirds Inc (BIRD)
According to the 24-hour chart, there is a support level at 0.6055, which, if violated, would cause prices to drop to 0.5837. In the upper region, resistance lies at 0.6435. The next price resistance is at 0.6597. RSI (Relative Strength Index) is 37.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0145, which suggests the price will decrease in the coming days. Percent R is at 80.13%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Allbirds Inc subject to short interest?
Stocks of Allbirds Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 2.5 million shares to 10.09 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 7.59 million shares. A jump of 24.78% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 9.68 of the overall float, the days-to-cover ratio (short ratio) jumped to 9.68.
