Maxim Group Downgrades Allbirds (NASDAQ:BIRD) to Hold

Allbirds (NASDAQ:BIRD) was downgraded by investment analysts at Maxim Group from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Marketbeat.com reports.

A number of other equities research analysts also recently weighed in on BIRD. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allbirds in a research note on Wednesday, January 21st. Wall Street Zen downgraded shares of Allbirds from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $11.00.

Allbirds Trading Down 7.5%

Shares of BIRD opened at $3.56 on Wednesday. The stock’s 50-day moving average price is $4.32 and its 200 day moving average price is $6.05. The company has a quick ratio of 1.10, a current ratio of 2.37 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $29.23 million, a price-to-earnings ratio of -0.34 and a beta of 1.96. Allbirds has a 12-month low of $3.52 and a 12-month high of $12.85.

Allbirds (NASDAQ:BIRD) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($2.49) EPS for the quarter, topping analysts’ consensus estimates of ($2.64) by $0.15. The company had revenue of $32.99 million during the quarter, compared to the consensus estimate of $34.25 million. Allbirds had a negative return on equity of 108.35% and a negative net margin of 51.90%. As a group, research analysts predict that Allbirds will post -11.87 earnings per share for the current year.

Hedge Funds Weigh In On Allbirds

Several institutional investors have recently added to or reduced their stakes in BIRD. Vanguard Group Inc. grew its stake in Allbirds by 4.9% during the third quarter. Vanguard Group Inc. now owns 243,983 shares of the company’s stock worth $1,383,000 after buying an additional 11,459 shares during the last quarter. Tenzing Global Management LLC bought a new stake in Allbirds during the 2nd quarter worth approximately $3,762,000. PDT Partners LLC grew its position in Allbirds by 30.0% during the 2nd quarter. PDT Partners LLC now owns 15,344 shares of the company’s stock worth $163,000 after acquiring an additional 3,545 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in Allbirds during the 3rd quarter valued at $59,000. Finally, Performa Ltd US LLC bought a new position in Allbirds in the 3rd quarter valued at $74,000. 44.07% of the stock is owned by institutional investors.

Allbirds Company Profile

Allbirds, Inc is a sustainable lifestyle company specializing in environmentally friendly footwear and apparel. The company’s core business centers on designing, manufacturing, and selling shoes that leverage natural and recycled materials to minimize ecological impact. Allbirds’ product portfolio includes lifestyle sneakers, running shoes, and casual slip-ons, all engineered for comfort, durability, and low carbon footprint.

The company’s signature offerings include the Wool Runner series, crafted from New Zealand merino wool, and the Tree line, which uses eucalyptus fiber.