Shares of Allbirds, Inc. (NASDAQ:BIRD – Get Free Report) dropped 3.6% during trading on Thursday . The company traded as low as $13.01 and last traded at $13.30. Approximately 27,676 shares changed hands during trading, a decline of 51% from the average daily volume of 56,080 shares. The stock had previously closed at $13.79.
Allbirds Trading Down 3.6 %
The company has a market capitalization of $2.07 billion, a P/E ratio of -13.71 and a beta of 1.79. The company’s fifty day moving average is $12.66 and its 200 day moving average is $12.96.
Allbirds (NASDAQ:BIRD – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($2.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.60) by $1.20. Allbirds had a negative return on equity of 61.22% and a negative net margin of 61.24%. The company had revenue of $51.58 million for the quarter, compared to analyst estimates of $50.34 million. During the same period in the previous year, the company posted ($3.60) EPS. Equities research analysts predict that Allbirds, Inc. will post -12.2 EPS for the current year.
Insider Activity at Allbirds
Hedge Funds Weigh In On Allbirds
Hedge funds have recently added to or reduced their stakes in the company. Laidlaw Wealth Management LLC purchased a new position in shares of Allbirds in the 4th quarter worth $751,000. CastleKnight Management LP purchased a new position in Allbirds in the fourth quarter worth about $348,000. Coldstream Capital Management Inc. bought a new stake in shares of Allbirds during the 4th quarter valued at about $274,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Allbirds during the 2nd quarter valued at about $65,000. 44.07% of the stock is currently 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.
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