Allbirds (NASDAQ:BIRD) Posts Quarterly Earnings Results, Beats Expectations By $0.87 EPS

Allbirds (NASDAQ:BIRD) issued its quarterly earnings data on Thursday. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.10) by $0.87, FiscalAI reports. Allbirds had a negative return on equity of 231.86% and a negative net margin of 72.82%.

Allbirds Stock Up 26.5%

Shares of NASDAQ BIRD traded up $0.29 during mid-day trading on Friday, reaching $1.40. 1,201,167 shares of the company’s stock traded hands, compared to its average volume of 2,334,387. Allbirds has a 1-year low of $1.10 and a 1-year high of $24.31. The business has a 50-day simple moving average of $2.30 and a 200 day simple moving average of $3.44. The stock has a market cap of $12.37 million, a P/E ratio of -0.16 and a beta of 2.63. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.70 and a quick ratio of 3.70.

Insider Activity

In other news, CFO Ann Mitchell sold 19,508 shares of the company’s stock in a transaction on Friday, September 18th. The stock was 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 of the company’s stock, valued at $1,888,564.50. This represents a 2.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Weiss Ratings downgraded shares of Allbirds from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. Wall Street Zen raised shares of Allbirds from a “sell” rating to a “hold” rating in a research note on Saturday, September 26th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.

About Allbirds

Allbirds, Inc. is a footwear and apparel company known for developing products with a focus on natural and renewable materials. Its product range has included casual shoes, running shoes, sandals, clothing and accessories for men and women. The company’s materials have included merino wool, eucalyptus tree fiber and sugarcane-based foam. Allbirds has emphasized product comfort, simplified design and efforts to reduce the environmental impact associated with its products and supply chain. Founded in 2015 by Tim Brown and Joey Zwillinger, Allbirds initially built its brand through direct-to-consumer e-commerce and later expanded into company-operated retail stores and selected wholesale distribution.