Allbirds (NASDAQ:BIRD) Upgraded at Wall Street Zen

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

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Allbirds in a research note on Thursday, August 27th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Allbirds presently has an average rating of “Reduce”.

Allbirds Price Performance

BIRD stock opened at $2.33 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.70 and a quick ratio of 3.70. Allbirds has a 1 year low of $2.15 and a 1 year high of $24.31. The firm has a 50-day moving average of $2.44 and a 200 day moving average of $3.77. The company has a market cap of $20.53 million, a P/E ratio of -0.26 and a beta of 2.62.

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

Insider Activity

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

Hedge Funds Weigh In On Allbirds

Institutional investors and hedge funds have recently made changes to their positions in the business. Cygnus Capital Advisors LLC bought a new position in shares of Allbirds during the second quarter valued at approximately $186,000. Performa Ltd US LLC boosted its position in shares of 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 purchasing an additional 6,650 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in shares of Allbirds in the 2nd quarter worth approximately $73,000. Institutional investors own 44.07% of the company’s stock.

About Allbirds

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.