Allbirds (NASDAQ:BIRD) Announces Earnings Results

Allbirds (NASDAQ:BIRD) posted its quarterly earnings results on Tuesday. The company reported ($1.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.49) by ($0.30), FiscalAI reports. Allbirds had a negative return on equity of 173.54% and a negative net margin of 53.36%.The business had revenue of $2.76 million for the quarter, compared to analysts’ expectations of $29.50 million.

Allbirds Stock Performance

NASDAQ:BIRD traded down $0.01 during trading hours on Wednesday, reaching $2.40. The company had a trading volume of 256,241 shares, compared to its average volume of 3,028,324. Allbirds has a 1-year low of $2.15 and a 1-year high of $24.31. The firm has a market cap of $21.14 million, a PE ratio of -0.26 and a beta of 2.59. The business’s 50 day moving average price is $3.34 and its 200-day moving average price is $3.92. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.59 and a quick ratio of 0.68.

Allbirds Announces Dividend

The business also recently declared a special dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, June 25th will be given a dividend of $0.31 per share.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BIRD shares. Wall Street Zen lowered shares of Allbirds from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings upgraded shares of Allbirds from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce”.

Insider Activity at Allbirds

In other news, CEO Nadia Catherine Carlsten sold 117,459 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $4.21, for a total transaction of $494,502.39. Following the sale, the chief executive officer owned 1,414,920 shares of the company’s stock, valued at $5,956,813.20. This trade represents a 7.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 122,405 shares of company stock worth $516,690. 18.76% of the stock is owned by company insiders.

Institutional Trading of Allbirds

Hedge funds have recently added to or reduced their stakes in the company. Tenzing Global Management LLC acquired a new stake in Allbirds during the second quarter valued at $3,762,000. Vanguard Group Inc. increased its holdings 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 buying an additional 11,459 shares in the last quarter. Bridgeway Capital Management LLC raised its position in shares of Allbirds by 46.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 34,931 shares of the company’s stock worth $143,000 after acquiring an additional 11,100 shares during the period. PDT Partners LLC raised its position in shares of Allbirds by 30.0% in the second quarter. PDT Partners LLC now owns 15,344 shares of the company’s stock worth $163,000 after acquiring an additional 3,545 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Allbirds during the 4th quarter worth about $54,000. 44.07% of the stock is owned by hedge funds and other institutional investors.

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.