Allbirds (NASDAQ:BIRD) Posts Quarterly Earnings Results, Misses Expectations By $0.30 EPS

Allbirds (NASDAQ:BIRD) posted its quarterly earnings data on Tuesday. The company reported ($1.79) EPS for the quarter, missing analysts’ consensus estimates of ($1.49) by ($0.30), FiscalAI reports. The company had revenue of $2.76 million for the quarter, compared to analyst estimates of $29.50 million. Allbirds had a negative net margin of 53.36% and a negative return on equity of 173.54%.

Allbirds Trading Down 0.4%

Shares of BIRD traded down $0.01 during mid-day trading on Wednesday, reaching $2.40. The company had a trading volume of 254,596 shares, compared to its average volume of 3,028,230. The stock has a market cap of $21.14 million, a price-to-earnings ratio of -0.26 and a beta of 2.59. The firm has a fifty day simple moving average of $3.34 and a 200-day simple moving average of $3.92. Allbirds has a fifty-two week low of $2.15 and a fifty-two week high of $24.31. The company has a current ratio of 1.59, a quick ratio of 0.68 and a debt-to-equity ratio of 1.07.

Allbirds Announces Dividend

The business also recently declared a special dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, June 25th will be paid a dividend of $0.31 per share.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Weiss Ratings raised shares of Allbirds from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. Wall Street Zen cut shares of Allbirds from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Insider Activity

In other news, CEO Nadia Catherine Carlsten sold 117,459 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $4.21, for a total transaction of $494,502.39. Following the completion of the sale, the chief executive officer directly owned 1,414,920 shares in the company, valued at $5,956,813.20. This represents a 7.67% decrease in their position. The transaction was disclosed in a 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 have sold 122,405 shares of company stock worth $516,690. 18.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC increased its stake 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 last quarter. Vanguard Group Inc. increased 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 purchasing an additional 11,459 shares in the last quarter. Tenzing Global Management LLC purchased a new position in Allbirds in the second quarter valued at approximately $3,762,000. PDT Partners LLC raised its holdings in Allbirds by 30.0% in the second quarter. PDT Partners LLC now owns 15,344 shares of the company’s stock valued at $163,000 after buying an additional 3,545 shares during the period. Finally, Susquehanna International Group LLP acquired a new position in Allbirds during the third quarter valued at 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.