Wall Street Zen Upgrades Allbirds (NASDAQ:BIRD) to Hold

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

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allbirds in a research report on Thursday, August 27th. 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 MarketBeat, the company currently has an average rating of “Reduce”.

Allbirds Price Performance

BIRD stock opened at $2.32 on Friday. The company has a 50 day moving average of $2.45 and a two-hundred day moving average of $3.78. The company has a market cap of $20.44 million, a price-to-earnings ratio of -0.26 and a beta of 2.62. Allbirds has a 12-month low of $2.15 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.

Allbirds (NASDAQ:BIRD) last posted its quarterly earnings results on Tuesday, August 18th. The company reported ($1.39) earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $29.50 million.

Insider Activity at Allbirds

In other news, CFO Ann Mitchell sold 19,508 shares of the firm’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $2.30, for a total transaction of $44,868.40. Following the transaction, the chief financial officer owned 821,115 shares in the company, valued at approximately $1,888,564.50. This trade represents a 2.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 company insiders.

Institutional Investors Weigh In On Allbirds

A number of large investors have recently bought and sold shares of BIRD. Engineers Gate Manager LP bought a new stake in Allbirds during the 2nd quarter valued at approximately $73,000. Cygnus Capital Advisors LLC acquired a new stake in Allbirds in the 2nd quarter valued at approximately $186,000. Finally, Performa Ltd US LLC increased its position in Allbirds by 36.2% in the 1st 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. 44.07% of the stock is currently owned by institutional investors.

Allbirds Company Profile

Allbirds, Inc is a lifestyle footwear and apparel company known for products designed with an emphasis on natural and renewable materials. Its product range has included casual shoes, running shoes, sandals, clothing and accessories for men and women.

The company has used materials such as merino wool, eucalyptus fiber and sugarcane-based foam in selected products. Allbirds markets its offerings through its e-commerce platform, company-operated retail stores and, in some markets, other distribution channels.

Allbirds was founded in 2015 by Tim Brown and Joey Zwillinger.