Allbirds (NASDAQ:BIRD) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Allbirds (NASDAQ:BIRD) had its price objective hoisted by Morgan Stanley from $5.00 to $8.00 in a report issued on Monday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Separately, Wall Street Zen lowered shares of Allbirds from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th.

Allbirds Stock Performance

Shares of Allbirds stock opened at $7.07 on Monday. The firm has a market capitalization of $56.98 million, a P/E ratio of -0.67 and a beta of 1.90. The company has a quick ratio of 1.80, a current ratio of 2.55 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average price of $10.32 and a 200 day moving average price of $7.51. Allbirds has a 52 week low of $3.93 and a 52 week high of $18.33.

Allbirds (NASDAQ:BIRD) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($1.92) EPS for the quarter, beating the consensus estimate of ($2.78) by $0.86. The firm had revenue of $39.69 million during the quarter, compared to analyst estimates of $38.44 million. Allbirds had a negative net margin of 49.36% and a negative return on equity of 87.92%. Sell-side analysts expect that Allbirds will post -11.87 EPS for the current year.

Insider Transactions at Allbirds

In other Allbirds news, CEO Joseph Vernachio sold 4,450 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $7.15, for a total transaction of $31,817.50. Following the completion of the transaction, the chief executive officer directly owned 98,032 shares of the company’s stock, valued at approximately $700,928.80. This trade represents a 4.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 30.67% of the company’s stock.

Hedge Funds Weigh In On Allbirds

A number of institutional investors have recently bought and sold shares of the business. PDT Partners LLC purchased a new position in Allbirds during the 1st quarter worth approximately $76,000. Jacobs Levy Equity Management Inc. raised its position in Allbirds by 262.5% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 42,521 shares of the company’s stock worth $296,000 after buying an additional 30,791 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Allbirds during the 4th quarter worth approximately $70,000. Jane Street Group LLC purchased a new position in Allbirds during the 4th quarter worth approximately $104,000. Finally, JPMorgan Chase & Co. raised its position in Allbirds by 169.4% during the 4th quarter. JPMorgan Chase & Co. now owns 6,232 shares of the company’s stock worth $43,000 after buying an additional 3,919 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.