Allbirds (NASDAQ:BIRD) Upgraded to Hold at Wall Street Zen

Allbirds (NASDAQ:BIRD) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday.

Separately, Morgan Stanley raised their price target on shares of Allbirds from $5.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Monday, August 11th.

Allbirds Trading Up 0.6%

Allbirds stock opened at $7.03 on Friday. The firm’s 50-day moving average is $10.26 and its 200-day moving average is $7.53. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.80 and a current ratio of 2.55. Allbirds has a 1 year low of $3.93 and a 1 year high of $18.33. The company has a market cap of $57.29 million, a P/E ratio of -0.67 and a beta of 1.90.

Allbirds (NASDAQ:BIRD) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($1.92) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.78) by $0.86. Allbirds had a negative net margin of 49.36% and a negative return on equity of 87.92%. The company had revenue of $39.69 million for the quarter, compared to the consensus estimate of $38.44 million. On average, equities analysts expect that Allbirds will post -11.87 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Joseph Vernachio sold 4,450 shares of Allbirds stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $7.15, for a total value of $31,817.50. Following the sale, the chief executive officer directly owned 98,032 shares in the company, valued at $700,928.80. This trade represents a 4.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 30.67% of the stock is currently owned by corporate insiders.

Institutional Trading of Allbirds

Several hedge funds have recently bought and sold shares of BIRD. Tenzing Global Management LLC bought a new stake in Allbirds in the 2nd quarter valued at about $3,762,000. Jacobs Levy Equity Management Inc. lifted its position in Allbirds by 262.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 42,521 shares of the company’s stock valued at $296,000 after purchasing an additional 30,791 shares during the last quarter. Jane Street Group LLC bought a new stake in Allbirds in the 4th quarter valued at about $104,000. PDT Partners LLC bought a new stake in Allbirds in the 1st quarter valued at about $76,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Allbirds in the 4th quarter valued at about $70,000. 44.07% of the stock is currently owned by institutional investors.

Allbirds Company Profile

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.