Allbirds (NASDAQ:BIRD) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Allbirds (NASDAQ:BIRD) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Several other brokerages have also recently issued reports on BIRD. Weiss Ratings cut Allbirds from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 1st. Maxim Group cut Allbirds from a “buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $8.00.

Allbirds Stock Down 2.2%

Shares of NASDAQ:BIRD opened at $4.41 on Friday. The stock has a market cap of $38.41 million, a price-to-earnings ratio of -0.48 and a beta of 2.72. The company has a quick ratio of 1.06, a current ratio of 2.02 and a debt-to-equity ratio of 0.48. Allbirds has a 12-month low of $2.15 and a 12-month high of $24.31. The business’s 50 day moving average is $4.83 and its 200 day moving average is $4.62.

Allbirds (NASDAQ:BIRD) last announced its earnings results on Monday, April 20th. The company reported ($2.37) earnings per share (EPS) for the quarter. The company had revenue of $22.32 million for the quarter. Allbirds had a negative net margin of 50.69% and a negative return on equity of 127.72%.

Institutional Trading of Allbirds

A number of hedge funds have recently bought and sold shares of the business. Performa Ltd US LLC lifted its holdings in Allbirds by 36.2% during the first quarter. Performa Ltd US LLC now owns 25,000 shares of the company’s stock worth $75,000 after acquiring an additional 6,650 shares during the period. Bridgeway Capital Management LLC lifted its holdings in Allbirds by 46.6% during the fourth 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 period. Jane Street Group LLC bought a new stake in Allbirds during the fourth quarter worth $54,000. Susquehanna International Group LLP bought a new stake in Allbirds during the third quarter worth $59,000. Finally, Vanguard Group Inc. lifted its holdings in Allbirds by 4.9% during the third 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 period. 44.07% of the stock is currently owned by institutional investors.

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.