Allbirds (NASDAQ:BIRD) Upgraded to Hold at Wall Street Zen

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

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

Allbirds Price Performance

Shares of NASDAQ:BIRD opened at $2.45 on Friday. The firm’s 50 day moving average is $3.26 and its two-hundred day moving average is $3.89. Allbirds has a 52 week low of $2.15 and a 52 week high of $24.31. The firm has a market capitalization of $21.58 million, a P/E ratio of -0.27 and a beta of 2.58. The company has a current ratio of 3.70, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36.

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

Allbirds Dividend Announcement

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

Insider Activity at Allbirds

In other news, CEO Nadia Catherine Carlsten sold 117,459 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $4.21, for a total value of $494,502.39. Following the completion of the sale, the chief executive officer directly owned 1,414,920 shares of the company’s stock, valued at approximately $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 accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 122,405 shares of company stock worth $516,690. 18.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Allbirds

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BIRD. Performa Ltd US LLC lifted its stake in Allbirds by 36.2% during the first 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 position in 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 buying an additional 11,100 shares during the last quarter. Jane Street Group LLC acquired a new position in Allbirds in the fourth quarter worth approximately $54,000. Susquehanna International Group LLP acquired a new position in Allbirds in the third quarter worth approximately $59,000. Finally, Vanguard Group Inc. increased 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 valued at $1,383,000 after buying an additional 11,459 shares in the last quarter. Institutional investors own 44.07% of the company’s stock.

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.