Allbirds (NASDAQ:BIRD) Trading Down 5.3% – Here’s Why

Allbirds, Inc. (NASDAQ:BIRD) shares dropped 5.3% during trading on Friday . The company traded as low as $2.68 and last traded at $2.70. Approximately 391,385 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 1,153,851 shares. The stock had previously closed at $2.85.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BIRD. Wall Street Zen cut Allbirds from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings raised shares of Allbirds from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $8.00.

Allbirds Stock Down 5.3%

The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.68 and a current ratio of 1.59. The firm has a market capitalization of $23.79 million, a P/E ratio of -0.30 and a beta of 2.55. The stock has a fifty day moving average price of $4.10 and a two-hundred day moving average price of $4.18.

Allbirds (NASDAQ:BIRD) last issued its earnings results on Monday, April 20th. The company reported ($2.37) earnings per share for the quarter. Allbirds had a negative return on equity of 173.54% and a negative net margin of 53.36%.The business had revenue of $22.32 million for the quarter.

Insider Activity

In related news, CEO Nadia Catherine Carlsten sold 117,459 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $4.21, for a total transaction of $494,502.39. Following the completion of the transaction, the chief executive officer owned 1,414,920 shares in the company, valued at $5,956,813.20. The trade was a 7.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 122,405 shares of company stock valued at $516,690. Company insiders own 30.67% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BIRD. Jane Street Group LLC acquired a new position in shares of Allbirds during the fourth quarter worth approximately $54,000. Susquehanna International Group LLP bought a new position in shares of Allbirds in the third quarter worth $59,000. Performa Ltd US LLC increased its holdings in shares of Allbirds by 36.2% during the first quarter. Performa Ltd US LLC now owns 25,000 shares of the company’s stock valued at $75,000 after purchasing an additional 6,650 shares during the period. Bridgeway Capital Management LLC raised its stake in shares of Allbirds by 46.6% during the fourth quarter. Bridgeway Capital Management LLC now owns 34,931 shares of the company’s stock valued at $143,000 after purchasing an additional 11,100 shares in the last quarter. Finally, PDT Partners LLC lifted its holdings in Allbirds by 30.0% in the second quarter. PDT Partners LLC now owns 15,344 shares of the company’s stock worth $163,000 after purchasing an additional 3,545 shares during the period. 44.07% of the stock is owned by institutional investors and hedge funds.

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.