Allbirds (NASDAQ:BIRD) Shares Up 1% - Still a Buy?

Allbirds, Inc. (NASDAQ:BIRD - Get Free Report)'s stock price shot up 1% during trading on Friday . The company traded as high as $10.84 and last traded at $10.59. 34,059 shares were traded during mid-day trading, a decline of 45% from the average session volume of 62,284 shares. The stock had previously closed at $10.48.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Maxim Group started coverage on Allbirds in a research report on Friday, April 11th. They set a "buy" rating and a $14.00 target price on the stock. Wall Street Zen upgraded shares of Allbirds from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Finally, Morgan Stanley reduced their price target on Allbirds from $6.00 to $5.00 and set an "equal weight" rating for the company in a research report on Monday, May 12th.

Allbirds Stock Up 2.1%

The firm has a market cap of $84.71 million, a PE ratio of -0.95 and a beta of 1.90. The stock has a 50 day moving average price of $8.28 and a two-hundred day moving average price of $6.92.

Allbirds (NASDAQ:BIRD - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($2.73) EPS for the quarter, beating analysts' consensus estimates of ($3.85) by $1.12. The firm had revenue of $32.11 million for the quarter, compared to analyst estimates of $29.98 million. Allbirds had a negative return on equity of 76.44% and a negative net margin of 48.13%. As a group, equities analysts anticipate that Allbirds, Inc. will post -11.87 earnings per share for the current year.

Insider Activity

In other Allbirds news, CEO Joseph Vernachio sold 4,450 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $7.15, for a total value of $31,817.50. Following the sale, the chief executive officer owned 98,032 shares in the company, valued at approximately $700,928.80. This represents a 4.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 45.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Allbirds by 169.4% in the 4th quarter. JPMorgan Chase & Co. now owns 6,232 shares of the company's stock worth $43,000 after acquiring an additional 3,919 shares in the last quarter. Performa Ltd US LLC raised its stake in Allbirds by 64.0% during the fourth quarter. Performa Ltd US LLC now owns 8,200 shares of the company's stock worth $57,000 after purchasing an additional 3,200 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Allbirds in the fourth quarter worth approximately $70,000. PDT Partners LLC acquired a new stake in shares of Allbirds during the 1st quarter worth about $76,000. Finally, Jane Street Group LLC purchased a new stake in Allbirds in the fourth quarter valued at approximately $104,000. Hedge funds and other institutional investors own 44.07% of the company's stock.

Allbirds Company Profile

Allbirds, Inc manufactures and sells footwear and apparel products for men and women in the United States and internationally. The company offers a range of lifestyle and performance shoes; and apparel, including classic tees and sweats, socks, and underwear. It sells its products through its retail stores, as well as online.