Allbirds (NASDAQ:BIRD) Releases Quarterly Earnings Results, Beats Estimates By $0.87 EPS

Allbirds (NASDAQ:BIRD) released its earnings results on Thursday. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.10) by $0.87, FiscalAI reports. Allbirds had a negative return on equity of 231.86% and a negative net margin of 72.82%.

Allbirds Stock Performance

NASDAQ BIRD traded up $0.28 on Friday, hitting $1.39. 1,051,423 shares of the stock traded hands, compared to its average volume of 2,334,114. The company has a debt-to-equity ratio of 0.36, a quick ratio of 3.70 and a current ratio of 3.70. The business’s fifty day moving average is $2.30 and its two-hundred day moving average is $3.44. Allbirds has a 12 month low of $1.10 and a 12 month high of $24.31. The firm has a market capitalization of $12.21 million, a price-to-earnings ratio of -0.15 and a beta of 2.63.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BIRD. Wall Street Zen raised Allbirds from a “sell” rating to a “hold” rating in a research report on Saturday, September 26th. Weiss Ratings lowered Allbirds from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Allbirds presently has an average rating of “Reduce”.

Insider Activity at Allbirds

In other Allbirds news, CFO Ann Mitchell sold 19,508 shares of Allbirds stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $2.30, for a total transaction of $44,868.40. Following the completion of the transaction, the chief financial officer owned 821,115 shares of the company’s stock, valued at $1,888,564.50. The trade was a 2.32% decrease in their position. The transaction was disclosed in a filing 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. 18.76% of the stock is owned by insiders.

About Allbirds

Allbirds, Inc. is a footwear and apparel company known for developing products with a focus on natural and renewable materials. Its product range has included casual shoes, running shoes, sandals, clothing and accessories for men and women. The company’s materials have included merino wool, eucalyptus tree fiber and sugarcane-based foam. Allbirds has emphasized product comfort, simplified design and efforts to reduce the environmental impact associated with its products and supply chain. Founded in 2015 by Tim Brown and Joey Zwillinger, Allbirds initially built its brand through direct-to-consumer e-commerce and later expanded into company-operated retail stores and selected wholesale distribution.