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

Allbirds (NASDAQ:BIRD) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Separately, Weiss Ratings raised shares of Allbirds from a “sell (e+)” rating to a “sell (d-)” rating in a 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

Allbirds Stock Performance

Shares of BIRD opened at $2.45 on Friday. The firm’s 50 day simple moving average is $3.26 and its 200 day simple moving average is $3.89. The company has a market capitalization of $21.58 million, a P/E ratio of -0.27 and a beta of 2.59. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.70 and a quick ratio of 3.70. Allbirds has a 1-year low of $2.15 and a 1-year high of $24.31.

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

Insider Buying and Selling at Allbirds

In related news, CEO Nadia Catherine Carlsten sold 117,459 shares of the stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $4.21, for a total transaction of $494,502.39. Following the completion of the sale, the chief executive officer directly owned 1,414,920 shares in the company, valued at $5,956,813.20. This represents a 7.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 three months, insiders sold 122,405 shares of company stock valued at $516,690. Insiders own 18.76% of the company’s stock.

Hedge Funds Weigh In On Allbirds

Large investors have recently bought and sold shares of the stock. Tenzing Global Management LLC bought a new stake in Allbirds in the second quarter valued at approximately $3,762,000. Vanguard Group Inc. grew its holdings in shares of Allbirds by 4.9% in the third quarter. Vanguard Group Inc. now owns 243,983 shares of the company’s stock worth $1,383,000 after purchasing an additional 11,459 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings 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 purchasing an additional 11,100 shares during the last quarter. Performa Ltd US LLC increased its stake in shares of Allbirds by 36.2% in the first quarter. Performa Ltd US LLC now owns 25,000 shares of the company’s stock worth $75,000 after buying an additional 6,650 shares during the period. Finally, PDT Partners LLC raised its holdings in Allbirds by 30.0% during the 2nd 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. 44.07% of the stock is owned by hedge funds and other institutional investors.

About Allbirds

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.