Allbirds (NASDAQ:BIRD) Sets New 12-Month Low at $3.60

Allbirds, Inc. (NASDAQ:BIRDGet Rating) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $3.60 and last traded at $3.63, with a volume of 7997 shares trading hands. The stock had previously closed at $3.76.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BIRD shares. Morgan Stanley lowered Allbirds from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $12.00 to $5.00 in a research note on Wednesday, August 10th. Cowen lowered their target price on Allbirds from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Friday, September 2nd. Stifel Nicolaus lowered Allbirds from a “buy” rating to a “hold” rating and lowered their target price for the stock from $7.00 to $5.00 in a research note on Wednesday, July 20th. Robert W. Baird reiterated an “outperform” rating and set a $9.00 target price on shares of Allbirds in a research note on Wednesday, August 3rd. Finally, KeyCorp began coverage on Allbirds in a research note on Wednesday, July 20th. They set a “sector weight” rating on the stock. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.57.

Allbirds Trading Down 5.5 %

The company has a market cap of $508.41 million and a P/E ratio of -5.00. The company has a 50 day moving average price of $4.56 and a 200-day moving average price of $4.98.

Allbirds (NASDAQ:BIRDGet Rating) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.04. Allbirds had a negative return on equity of 23.75% and a negative net margin of 25.09%. The company had revenue of $78.17 million for the quarter, compared to the consensus estimate of $77.78 million. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. Equities analysts expect that Allbirds, Inc. will post -0.55 earnings per share for the current year.

Institutional Investors Weigh In On Allbirds

Hedge funds have recently modified their holdings of the company. Allworth Financial LP acquired a new position in Allbirds during the 1st quarter worth about $1,123,000. Lombard Odier Asset Management Europe Ltd acquired a new position in Allbirds during the 4th quarter worth about $3,720,000. Wesbanco Bank Inc. acquired a new position in Allbirds during the 1st quarter worth about $116,000. Point72 Hong Kong Ltd acquired a new position in Allbirds during the 4th quarter worth about $162,000. Finally, Blueshift Asset Management LLC acquired a new position in Allbirds during the 1st quarter worth about $267,000. Institutional investors and hedge funds own 34.82% of the company’s stock.

About Allbirds

(Get Rating)

Allbirds, Inc manufactures and sells footwear and apparel products for men and women. It offers shoes, such as running shoes, everyday sneakers, high-tops, slip-ons, boat shoes, flats, weather repellent shoes, and sandals. The company's apparel products include activewear, tops, bottoms, dresses, sweaters, underwear, and socks.

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