Allbirds (NASDAQ:BIRD) Shares Up 1.5% – Here’s Why

Allbirds, Inc. (NASDAQ:BIRD) shot up 1.5% on Tuesday . The company traded as high as $4.30 and last traded at $4.07. 73,124 shares changed hands during trading, a decline of 12% from the average session volume of 83,372 shares. The stock had previously closed at $4.01.

Wall Street Analyst Weigh In

Several research firms have commented on BIRD. Wall Street Zen downgraded Allbirds from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Allbirds in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $11.00.

Allbirds Stock Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 2.37 and a quick ratio of 1.10. The stock has a fifty day simple moving average of $5.44 and a two-hundred day simple moving average of $7.22. The firm has a market capitalization of $33.41 million, a P/E ratio of -0.39 and a beta of 1.95.

Allbirds (NASDAQ:BIRD) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($2.49) EPS for the quarter, topping the consensus estimate of ($2.64) by $0.15. Allbirds had a negative net margin of 51.90% and a negative return on equity of 108.35%. The company had revenue of $32.99 million during the quarter, compared to the consensus estimate of $34.25 million. On average, research analysts predict that Allbirds, Inc. will post -11.87 EPS for the current year.

Hedge Funds Weigh In On Allbirds

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Finley Financial LLC bought a new stake in Allbirds in the 3rd quarter valued at about $28,000. Susquehanna International Group LLP bought a new position in Allbirds in the third quarter worth approximately $59,000. PDT Partners LLC acquired a new stake in Allbirds in the first quarter valued at approximately $76,000. Performa Ltd US LLC bought a new stake in shares of Allbirds during the third quarter valued at approximately $74,000. Finally, Vanguard Group Inc. increased its holdings in shares of Allbirds by 4.9% during the third quarter. Vanguard Group Inc. now owns 243,983 shares of the company’s stock valued at $1,383,000 after acquiring an additional 11,459 shares in the last quarter. Institutional investors own 44.07% of the company’s stock.

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.