Allbirds (NASDAQ:BIRD) Stock Dropped to “Sell” by Wall Street Zen

Wall Street Zen lowered shares of Allbirds (NASDAQ:BIRD) from a hold rating to a sell rating in a research note published on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings lowered shares of Allbirds from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, November 9th. 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.com, the company has an average rating of “Reduce”.

Allbirds Price Performance

Shares of Allbirds stock traded up $0.32 during trading hours on Friday, reaching $1.43. 1,735,317 shares of the company’s stock were exchanged, compared to its average volume of 342,984. Allbirds has a 1 year low of $1.10 and a 1 year high of $24.31. The company has a market capitalization of $12.60 million, a P/E ratio of -0.16 and a beta of 2.63. The business has a fifty day moving average of $2.28 and a two-hundred day moving average of $3.42. The company has a quick ratio of 3.70, a current ratio of 3.70 and a debt-to-equity ratio of 0.36.

Allbirds (NASDAQ:BIRD) last posted its quarterly earnings results on Friday, November 13th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($1.10) by $0.87. Allbirds had a negative net margin of 72.82% and a negative return on equity of 231.86%.

Insider Transactions at Allbirds

In other Allbirds news, CFO Ann Mitchell sold 19,508 shares of the firm’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $2.30, for a total value of $44,868.40. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Performa Ltd US LLC increased its stake 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 last quarter. Engineers Gate Manager LP acquired a new position in shares of Allbirds in the 2nd quarter valued at $73,000. Finally, Cygnus Capital Advisors LLC acquired a new position in shares of Allbirds in the 2nd quarter valued at $186,000. Institutional investors and hedge funds own 44.07% of the company’s stock.

About Allbirds

Allbirds, Inc. is a footwear and apparel company known for products made with materials such as merino wool, eucalyptus fiber and sugarcane-based foam. Its offerings have included sneakers, casual shoes, clothing, socks and accessories. The company was founded in 2015 by Tim Brown and Joey Zwillinger, with an early focus on combining simple designs with materials positioned as alternatives to conventional footwear materials. Allbirds has sold products through its online store and retail locations, serving customers in the United States and international markets.