Allbirds (NASDAQ:BIRD) Trading Down 3.1%

Allbirds, Inc. (NASDAQ:BIRDGet Free Report)’s stock price fell 3.1% during trading on Tuesday . The company traded as low as $0.49 and last traded at $0.49. 631,849 shares were traded during trading, a decline of 42% from the average session volume of 1,092,901 shares. The stock had previously closed at $0.51.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BIRD. Piper Sandler lowered their price target on shares of Allbirds from $1.60 to $1.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 13th. Wedbush decreased their target price on shares of Allbirds from $0.90 to $0.70 and set a “neutral” rating on the stock in a report on Thursday, May 9th.

Check Out Our Latest Stock Analysis on Allbirds

Allbirds Stock Performance

The stock has a market capitalization of $76.88 million, a P/E ratio of -0.52 and a beta of 1.75. The firm’s fifty day simple moving average is $0.59 and its 200 day simple moving average is $0.78.

Allbirds (NASDAQ:BIRDGet Free Report) last released its earnings results on Wednesday, May 8th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.03. Allbirds had a negative net margin of 60.50% and a negative return on equity of 57.15%. The firm had revenue of $39.33 million for the quarter, compared to analyst estimates of $39.73 million. Analysts anticipate that Allbirds, Inc. will post -0.66 earnings per share for the current fiscal year.

Insider Activity at Allbirds

In related news, CFO Ann Mitchell sold 62,486 shares of Allbirds stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $0.56, for a total transaction of $34,992.16. Following the sale, the chief financial officer now directly owns 812,024 shares of the company’s stock, valued at approximately $454,733.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Allbirds

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Coldstream Capital Management Inc. acquired a new stake in Allbirds during the 4th quarter worth approximately $274,000. Arnhold LLC boosted its position in Allbirds by 20.5% during the 4th quarter. Arnhold LLC now owns 272,905 shares of the company’s stock worth $334,000 after buying an additional 46,350 shares during the period. CastleKnight Management LP acquired a new stake in Allbirds during the 4th quarter worth approximately $348,000. Finally, Laidlaw Wealth Management LLC acquired a new stake in Allbirds during the 4th quarter worth approximately $751,000. 44.07% of the stock is owned by institutional investors.

Allbirds Company Profile

(Get Free Report)

Allbirds, Inc manufactures and sells footwear and apparel products for men and women in the United States and internationally. The company offers a range of lifestyle and performance shoes; and apparel, including classic tees and sweats, socks, and underwear. It sells its products through its retail stores, as well as online.

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