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

Allbirds logo with Retail/Wholesale background

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.

View Our Latest Analysis on BIRD

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

(Get Free Report)

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.

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