Morgan Stanley Issues Pessimistic Forecast for Allbirds (NASDAQ:BIRD) Stock Price

Allbirds (NASDAQ:BIRD) had its price objective decreased by Morgan Stanley from $6.00 to $5.00 in a report released on Monday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Separately, Maxim Group began coverage on shares of Allbirds in a research note on Friday, April 11th. They issued a “buy” rating and a $14.00 price objective on the stock.

Allbirds Stock Up 3.4%

Shares of Allbirds stock opened at $5.43 on Monday. The firm has a market capitalization of $43.45 million, a P/E ratio of -0.34 and a beta of 1.47. Allbirds has a 52 week low of $3.93 and a 52 week high of $18.33. The firm’s 50 day moving average is $5.35 and its two-hundred day moving average is $6.79.

Allbirds (NASDAQ:BIRD) last announced its earnings results on Thursday, May 8th. The company reported ($2.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.85) by $1.12. Allbirds had a negative return on equity of 65.30% and a negative net margin of 60.43%. The firm had revenue of $32.11 million during the quarter, compared to analysts’ expectations of $29.98 million. As a group, research analysts expect that Allbirds will post -11.87 earnings per share for the current fiscal year.

Institutional Trading of Allbirds

A number of institutional investors have recently modified their holdings of the business. Performa Ltd US LLC lifted its stake in shares of Allbirds by 64.0% during the 4th quarter. Performa Ltd US LLC now owns 8,200 shares of the company’s stock worth $57,000 after purchasing an additional 3,200 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Allbirds by 169.4% during the 4th quarter. JPMorgan Chase & Co. now owns 6,232 shares of the company’s stock worth $43,000 after purchasing an additional 3,919 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Allbirds during the 4th quarter worth about $70,000. Jane Street Group LLC purchased a new stake in shares of Allbirds during the 4th quarter worth about $104,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Allbirds by 262.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 42,521 shares of the company’s stock worth $296,000 after purchasing an additional 30,791 shares in the last quarter. 44.07% of the stock is currently owned by hedge funds and other institutional investors.

About Allbirds

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.