Allbirds (NASDAQ:BIRD) Trading Down 5.3% – Here’s What Happened

Allbirds, Inc. (NASDAQ:BIRD)’s stock price dropped 5.3% on Friday . The stock traded as low as $2.68 and last traded at $2.70. Approximately 391,385 shares traded hands during trading, a decline of 66% from the average session volume of 1,153,851 shares. The stock had previously closed at $2.85.

Analyst Upgrades and Downgrades

BIRD has been the topic of a number of research reports. Wall Street Zen downgraded shares of Allbirds from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings upgraded shares of Allbirds from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $8.00.

Allbirds Trading Down 5.3%

The company has a debt-to-equity ratio of 1.07, a current ratio of 1.59 and a quick ratio of 0.68. The business has a 50 day moving average of $4.10 and a 200 day moving average of $4.18. The firm has a market capitalization of $23.79 million, a price-to-earnings ratio of -0.30 and a beta of 2.55.

Allbirds (NASDAQ:BIRD) last released its quarterly earnings data on Monday, April 20th. The company reported ($2.37) EPS for the quarter. Allbirds had a negative net margin of 53.36% and a negative return on equity of 173.54%. The company had revenue of $22.32 million during the quarter.

Insider Activity at Allbirds

In related news, CEO Nadia Catherine Carlsten sold 117,459 shares of the 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 sale, the chief executive officer directly owned 1,414,920 shares in the company, valued at $5,956,813.20. This trade 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. Over the last three months, insiders sold 122,405 shares of company stock valued at $516,690. Corporate insiders own 30.67% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BIRD. Tenzing Global Management LLC bought a new position in shares of Allbirds during the second quarter worth about $3,762,000. Jane Street Group LLC bought a new stake in Allbirds in the 4th quarter valued at approximately $54,000. Vanguard Group Inc. boosted its position in 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 acquiring an additional 11,459 shares during the last quarter. Bridgeway Capital Management LLC boosted its position in Allbirds by 46.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 34,931 shares of the company’s stock worth $143,000 after acquiring an additional 11,100 shares during the last quarter. Finally, Susquehanna International Group LLP bought a new position in shares of Allbirds during the 3rd quarter worth approximately $59,000. Institutional investors and hedge funds 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.