Allbirds (NASDAQ:BIRD) Shares Up 9.1%

Allbirds, Inc. (NASDAQ:BIRD - Get Free Report) shares were up 9.1% on Monday . The company traded as high as $0.77 and last traded at $0.65. Approximately 3,508,444 shares were traded during trading, an increase of 242% from the average daily volume of 1,025,155 shares. The stock had previously closed at $0.60.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BIRD shares. Telsey Advisory Group restated a "market perform" rating and set a $1.00 target price on shares of Allbirds in a report on Wednesday, March 6th. Piper Sandler lowered their target price on shares of Allbirds from $1.60 to $1.00 and set a "neutral" rating on the stock in a report on Wednesday, March 13th. Finally, Wedbush lowered their target price on shares of Allbirds from $1.00 to $0.90 and set a "neutral" rating on the stock in a report on Wednesday, March 13th.

Allbirds Price Performance

The stock's 50-day simple moving average is $0.77 and its 200 day simple moving average is $0.92. The stock has a market capitalization of $107.16 million, a P/E ratio of -0.64 and a beta of 1.82.

Allbirds (NASDAQ:BIRD - Get Free Report) last announced its earnings results on Tuesday, March 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.22). The company had revenue of $71.99 million during the quarter, compared to analysts' expectations of $68.88 million. Allbirds had a negative net margin of 60.01% and a negative return on equity of 51.83%. As a group, analysts expect that Allbirds, Inc. will post -0.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BIRD. Hollencrest Capital Management raised its stake in Allbirds by 100.0% in the third quarter. Hollencrest Capital Management now owns 30,000 shares of the company's stock valued at $33,000 after purchasing an additional 15,000 shares in the last quarter. SG Americas Securities LLC raised its stake in Allbirds by 134.1% during the third quarter. SG Americas Securities LLC now owns 42,338 shares of the company's stock worth $47,000 after acquiring an additional 24,255 shares in the last quarter. Fountainhead AM LLC acquired a new position in Allbirds during the third quarter worth about $91,000. Cheyne Capital Management UK LLP acquired a new position in Allbirds during the third quarter worth about $111,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Allbirds during the third quarter worth about $209,000. Institutional investors and hedge funds own 44.07% of the company's stock.

About Allbirds

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.