Allbirds (NASDAQ:BIRD) Releases Earnings Results, Misses Estimates By $0.30 EPS

Allbirds (NASDAQ:BIRD) announced its earnings results on Tuesday. The company reported ($1.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.49) by ($0.30), FiscalAI reports. The business 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 173.54% and a negative net margin of 53.36%.

Allbirds Price Performance

Shares of BIRD traded down $0.01 during trading hours on Wednesday, reaching $2.40. The company had a trading volume of 254,596 shares, compared to its average volume of 3,028,230. The company has a current ratio of 1.59, a quick ratio of 0.68 and a debt-to-equity ratio of 1.07. Allbirds has a 12-month low of $2.15 and a 12-month high of $24.31. The firm has a 50 day simple moving average of $3.34 and a 200-day simple moving average of $3.92. The company has a market capitalization of $21.14 million, a price-to-earnings ratio of -0.26 and a beta of 2.59.

Allbirds Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Nadia Catherine Carlsten sold 117,459 shares of the business’s 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 sale, the chief executive officer owned 1,414,920 shares of the company’s stock, valued at approximately $5,956,813.20. The trade was a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 122,405 shares of company stock worth $516,690 over the last quarter. 18.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Allbirds

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tenzing Global Management LLC purchased a new position in Allbirds in the 2nd quarter valued at approximately $3,762,000. Vanguard Group Inc. raised its position in shares of Allbirds by 4.9% during the 3rd 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 lifted its stake in Allbirds by 46.6% in 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. PDT Partners LLC lifted its stake in Allbirds by 30.0% in 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 in the last quarter. Finally, Jane Street Group LLC acquired a new stake in Allbirds during the 4th quarter valued at $54,000. 44.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BIRD has been the subject of several analyst reports. Wall Street Zen downgraded Allbirds from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings upgraded Allbirds from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Allbirds currently has an average rating of “Reduce”.

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.