Allbirds (NASDAQ:BIRD) Posts Quarterly Earnings Results

Allbirds (NASDAQ:BIRD) posted its earnings results on Thursday. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.87, FiscalAI reports. Allbirds had a negative return on equity of 231.86% and a negative net margin of 72.82%.

Allbirds Price Performance

Shares of BIRD traded up $0.31 during mid-day trading on Friday, hitting $1.42. The company’s stock had a trading volume of 1,273,507 shares, compared to its average volume of 2,334,846. Allbirds has a 1-year low of $1.10 and a 1-year high of $24.31. The company has a current ratio of 3.70, a quick ratio of 3.70 and a debt-to-equity ratio of 0.36. The firm has a 50-day simple moving average of $2.30 and a 200 day simple moving average of $3.44. The firm has a market capitalization of $12.51 million, a P/E ratio of -0.16 and a beta of 2.63.

Insider Buying and Selling

In other Allbirds news, CFO Ann Mitchell sold 19,508 shares of the company’s stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $2.30, for a total transaction of $44,868.40. Following the transaction, the chief financial officer directly owned 821,115 shares in the company, valued at approximately $1,888,564.50. This represents a 2.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 18.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded Allbirds from a “sell” rating to a “hold” rating in a research note on Saturday, September 26th. Weiss Ratings cut shares of Allbirds from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Allbirds currently has a consensus rating of “Reduce”.

About Allbirds

Allbirds, Inc. is a footwear and apparel company known for developing products with a focus on natural and renewable materials. Its product range has included casual shoes, running shoes, sandals, clothing and accessories for men and women. The company’s materials have included merino wool, eucalyptus tree fiber and sugarcane-based foam. Allbirds has emphasized product comfort, simplified design and efforts to reduce the environmental impact associated with its products and supply chain. Founded in 2015 by Tim Brown and Joey Zwillinger, Allbirds initially built its brand through direct-to-consumer e-commerce and later expanded into company-operated retail stores and selected wholesale distribution.