Allbirds (NASDAQ:BIRD) Given New $0.70 Price Target at Wedbush

Allbirds (NASDAQ:BIRD - Get Free Report) had its target price reduced by equities researchers at Wedbush from $0.90 to $0.70 in a report released on Thursday, Benzinga reports. The firm presently has a "neutral" rating on the stock. Wedbush's price target would indicate a potential upside of 17.37% from the stock's previous close.

Several other brokerages have also commented on BIRD. Telsey Advisory Group reissued a "market perform" rating and issued a $1.00 price target on shares of Allbirds in a report on Wednesday, March 6th. Piper Sandler lowered their price target on Allbirds from $1.60 to $1.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 13th.

Allbirds Trading Down 3.8 %

NASDAQ BIRD traded down $0.02 on Thursday, hitting $0.60. 1,620,569 shares of the company's stock traded hands, compared to its average volume of 1,017,915. The firm has a market capitalization of $92.56 million, a PE ratio of -0.60 and a beta of 1.79. Allbirds has a 1-year low of $0.54 and a 1-year high of $1.83. The firm's 50-day moving average price is $0.69 and its two-hundred day moving average price is $0.89.

Allbirds (NASDAQ:BIRD - Get Free Report) last posted its earnings results on Tuesday, March 12th. The company reported ($0.22) earnings per share for the quarter, meeting the consensus estimate of ($0.22). Allbirds had a negative net margin of 60.01% and a negative return on equity of 51.83%. The firm had revenue of $71.99 million during the quarter, compared to analyst estimates of $68.88 million. On average, research analysts anticipate that Allbirds will post -0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. CastleKnight Management LP purchased a new position in Allbirds during the fourth quarter worth about $348,000. Laidlaw Wealth Management LLC purchased a new position in shares of Allbirds during the 4th quarter worth $751,000. Coldstream Capital Management Inc. acquired a new stake in shares of Allbirds during the 4th quarter worth about $274,000. Arnhold LLC lifted its position in Allbirds by 20.5% in the fourth quarter. Arnhold LLC now owns 272,905 shares of the company's stock valued at $334,000 after buying an additional 46,350 shares during the last quarter. Finally, Hollencrest Capital Management increased its position in shares of Allbirds by 100.0% during the third quarter. Hollencrest Capital Management now owns 30,000 shares of the company's stock valued at $33,000 after acquiring an additional 15,000 shares during the last quarter. 44.07% of the stock is owned by hedge funds and other institutional investors.

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.