Allbirds (NASDAQ:BIRD) Issues Quarterly Earnings Results

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

Allbirds Trading Up 24.9%

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

Insider Transactions at Allbirds

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

Wall Street Analysts Forecast Growth

BIRD has been the topic of a number of research analyst reports. Wall Street Zen upgraded Allbirds from a “sell” rating to a “hold” rating in a report on Saturday, September 26th. Weiss Ratings cut Allbirds from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Allbirds presently has a consensus rating of “Reduce”.

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.