Morgan Stanley Cuts Allbirds (NASDAQ:BIRD) Price Target to $8.00

Allbirds (NASDAQ:BIRD) had its price objective lowered by Morgan Stanley from $12.00 to $8.00 in a report released on Tuesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Allbirds Trading Down 2.5 %

Shares of NASDAQ BIRD opened at $6.36 on Tuesday. Allbirds has a twelve month low of $6.11 and a twelve month high of $22.40. The firm has a 50-day moving average of $7.44 and a two-hundred day moving average of $10.30. The company has a market capitalization of $50.45 million, a price-to-earnings ratio of -0.40 and a beta of 1.61.

Allbirds (NASDAQ:BIRD) last issued its earnings results on Wednesday, November 6th. The company reported ($2.68) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.13) by $0.45. Allbirds had a negative return on equity of 65.30% and a negative net margin of 60.43%. The business had revenue of $43.00 million for the quarter, compared to analysts’ expectations of $42.11 million. During the same period in the previous year, the firm posted ($4.20) EPS. As a group, research analysts predict that Allbirds will post -11.89 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Allbirds stock. Point72 Asia Singapore Pte. Ltd. bought a new position in Allbirds, Inc. (NASDAQ:BIRD) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 129,694 shares of the company’s stock, valued at approximately $65,000. Point72 Asia Singapore Pte. Ltd. owned 0.08% of Allbirds at the end of the most recent reporting period. Hedge funds and other institutional investors own 44.07% of the company’s stock.

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.