Allbirds (NASDAQ:BIRD) Shares Up 1.5% – Still a Buy?

Allbirds, Inc. (NASDAQ:BIRD) traded up 1.5% during mid-day trading on Tuesday . The stock traded as high as $4.30 and last traded at $4.07. 73,124 shares were traded during mid-day trading, a decline of 12% from the average session volume of 83,372 shares. The stock had previously closed at $4.01.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Allbirds in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Allbirds from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.00.

Allbirds Trading Up 1.5%

The stock’s 50 day simple moving average is $5.44 and its two-hundred day simple moving average is $7.22. The stock has a market capitalization of $33.41 million, a PE ratio of -0.39 and a beta of 1.95. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.37 and a quick ratio of 1.10.

Allbirds (NASDAQ:BIRD) last issued its earnings results on Thursday, November 6th. The company reported ($2.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.64) by $0.15. Allbirds had a negative return on equity of 108.35% and a negative net margin of 51.90%.The firm had revenue of $32.99 million for the quarter, compared to analyst estimates of $34.25 million. On average, sell-side analysts expect that Allbirds, Inc. will post -11.87 EPS for the current year.

Hedge Funds Weigh In On Allbirds

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Susquehanna International Group LLP purchased a new position in shares of Allbirds in the third quarter worth about $59,000. Vanguard Group Inc. boosted its holdings in Allbirds by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 243,983 shares of the company’s stock worth $1,383,000 after buying an additional 11,459 shares during the period. Performa Ltd US LLC purchased a new position in Allbirds in the 3rd quarter valued at approximately $74,000. Finley Financial LLC purchased a new position in Allbirds in the 3rd quarter valued at approximately $28,000. Finally, Tenzing Global Management LLC bought a new stake in Allbirds during the 2nd quarter valued at $3,762,000. Institutional investors 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.