Allbirds (NASDAQ:BIRD) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Allbirds (NASDAQ:BIRD) from a hold rating to a sell rating in a research note released on Sunday,Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of Allbirds from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce”.

Allbirds Stock Performance

NASDAQ BIRD opened at $2.35 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 fifty-two week low of $2.15 and a fifty-two week high of $24.31. The business has a fifty day moving average of $2.88 and a 200-day moving average of $3.84. The stock has a market cap of $20.70 million, a price-to-earnings ratio of -0.26 and a beta of 2.62.

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

Allbirds Announces Dividend

The business also recently disclosed a special dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, June 25th were paid a dividend of $0.31 per share.

Insider Buying and Selling at Allbirds

In other news, CEO Nadia Catherine Carlsten sold 117,459 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $4.21, for a total transaction of $494,502.39. Following the transaction, 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 at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 18.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Allbirds

A number of institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC acquired a new position in Allbirds during the fourth quarter worth approximately $54,000. Susquehanna International Group LLP acquired a new position in shares of Allbirds in the 3rd quarter valued at $59,000. Performa Ltd US LLC boosted its holdings in shares of Allbirds by 36.2% in the 1st quarter. Performa Ltd US LLC now owns 25,000 shares of the company’s stock valued at $75,000 after purchasing an additional 6,650 shares during the last quarter. Bridgeway Capital Management LLC grew its stake in shares of 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 during the period. Finally, PDT Partners LLC increased its holdings in shares of Allbirds by 30.0% during the 2nd quarter. PDT Partners LLC now owns 15,344 shares of the company’s stock worth $163,000 after buying an additional 3,545 shares during the last quarter. 44.07% of the stock is currently 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.