Allbirds (NASDAQ:BIRD) Stock Rating Lowered by Maxim Group

Allbirds (NASDAQ:BIRD) was downgraded by Maxim Group from a “buy” rating to a “hold” rating in a report released on Wednesday, Marketbeat Ratings reports.

Other research analysts also recently issued reports about the company. Wall Street Zen downgraded Allbirds from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allbirds in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $11.00.

Allbirds Stock Performance

NASDAQ:BIRD opened at $3.51 on Wednesday. The firm has a market capitalization of $28.82 million, a PE ratio of -0.34 and a beta of 1.96. Allbirds has a 1 year low of $3.18 and a 1 year high of $12.85. The company has a current ratio of 2.37, a quick ratio of 1.10 and a debt-to-equity ratio of 0.24. The firm’s fifty day simple moving average is $4.26 and its 200 day simple moving average is $6.01.

Allbirds (NASDAQ:BIRD) last released its quarterly earnings results on Thursday, November 6th. The company reported ($2.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.64) by $0.15. The company had revenue of $32.99 million during the quarter, compared to analysts’ expectations of $34.25 million. Allbirds had a negative net margin of 51.90% and a negative return on equity of 108.35%. On average, sell-side analysts anticipate that Allbirds will post -11.87 EPS for the current year.

Institutional Investors Weigh In On Allbirds

A number of institutional investors have recently bought and sold shares of the business. PDT Partners LLC increased its holdings in Allbirds by 30.0% in the 2nd quarter. PDT Partners LLC now owns 15,344 shares of the company’s stock valued at $163,000 after buying an additional 3,545 shares during the period. Tenzing Global Management LLC acquired a new stake in shares of Allbirds during the 2nd quarter valued at about $3,762,000. Finley Financial LLC acquired a new stake in shares of Allbirds during the 3rd quarter valued at about $28,000. Performa Ltd US LLC bought a new stake in Allbirds in the third quarter valued at about $74,000. Finally, Vanguard Group Inc. increased its stake in Allbirds by 4.9% in 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 during the period. Institutional investors and hedge funds 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.