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

Allbirds (NASDAQ:BIRD) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings raised shares of Allbirds from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. One investment 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 currently has a consensus rating of “Reduce”.

Allbirds Stock Down 3.5%

Shares of NASDAQ BIRD opened at $2.45 on Friday. The company has a quick ratio of 3.70, a current ratio of 3.70 and a debt-to-equity ratio of 0.36. Allbirds has a 52 week low of $2.15 and a 52 week high of $24.31. The firm’s fifty day moving average is $2.94 and its 200 day moving average is $3.85. The company has a market cap of $21.58 million, a price-to-earnings ratio of -0.27 and a beta of 2.59.

Allbirds (NASDAQ:BIRD) last announced its quarterly earnings results on Tuesday, August 18th. The company reported ($1.39) earnings per share for the quarter, beating the consensus estimate of ($1.49) by $0.10. The business had revenue of $2.76 million during the quarter, compared to analysts’ expectations of $29.50 million. Allbirds had a negative net margin of 72.82% and a negative return on equity of 231.86%.

Insider Buying and Selling at Allbirds

In other news, CEO Nadia Catherine Carlsten sold 117,459 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $4.21, for a total value of $494,502.39. Following the sale, the chief executive officer directly owned 1,414,920 shares of the company’s stock, valued at $5,956,813.20. This represents a 7.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 18.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Allbirds

A number of hedge funds and other institutional investors have recently bought and sold shares of BIRD. Jane Street Group LLC purchased a new position in shares of Allbirds during the fourth quarter valued at approximately $54,000. Susquehanna International Group LLP purchased a new stake in shares of Allbirds in the 3rd quarter worth approximately $59,000. Performa Ltd US LLC increased its position in Allbirds by 36.2% during the 1st quarter. Performa Ltd US LLC now owns 25,000 shares of the company’s stock valued at $75,000 after buying an additional 6,650 shares in the last quarter. Bridgeway Capital Management LLC increased its position in Allbirds by 46.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 34,931 shares of the company’s stock valued at $143,000 after buying an additional 11,100 shares in the last quarter. Finally, PDT Partners LLC raised its stake in Allbirds by 30.0% during the second 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 last quarter. Hedge funds and other institutional investors 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.