Allbirds (NASDAQ:BIRD) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Allbirds (NASDAQ:BIRD) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Several other equities analysts also recently issued reports on BIRD. Morgan Stanley decreased their price objective on shares of Allbirds from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Monday, May 12th. Maxim Group initiated coverage on shares of Allbirds in a research note on Friday, April 11th. They issued a “buy” rating and a $14.00 price objective for the company.

Allbirds Price Performance

NASDAQ BIRD opened at $6.41 on Friday. Allbirds has a 1 year low of $3.93 and a 1 year high of $18.33. The company has a market capitalization of $51.66 million, a PE ratio of -0.61 and a beta of 1.90. The company has a fifty day moving average of $10.35 and a two-hundred day moving average of $7.52.

Allbirds (NASDAQ:BIRD) last released its quarterly earnings data on Thursday, August 7th. The company reported ($1.92) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.78) by $0.86. Allbirds had a negative net margin of 49.36% and a negative return on equity of 81.03%. The company had revenue of $39.69 million during the quarter, compared to the consensus estimate of $38.44 million. On average, research analysts expect that Allbirds will post -11.87 earnings per share for the current year.

Insider Buying and Selling at Allbirds

In other news, CEO Joseph Vernachio sold 4,450 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $7.15, for a total transaction of $31,817.50. Following the completion of the sale, the chief executive officer owned 98,032 shares in the company, valued at approximately $700,928.80. This represents a 4.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 30.67% of the company’s stock.

Institutional Investors Weigh In On Allbirds

Several hedge funds have recently made changes to their positions in BIRD. JPMorgan Chase & Co. boosted its stake in shares of Allbirds by 169.4% during the fourth quarter. JPMorgan Chase & Co. now owns 6,232 shares of the company’s stock worth $43,000 after buying an additional 3,919 shares during the period. Jane Street Group LLC acquired a new stake in shares of Allbirds during the fourth quarter worth about $104,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Allbirds during the fourth quarter worth about $70,000. Jacobs Levy Equity Management Inc. raised its holdings in 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. Finally, PDT Partners LLC purchased a new position in Allbirds during the first quarter worth about $76,000. Institutional investors and hedge funds own 44.07% of the company’s stock.

Allbirds Company Profile

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.