Allbirds (NASDAQ:BIRD) Posts Quarterly Earnings Results, Misses Expectations By $0.30 EPS

Allbirds (NASDAQ:BIRD) issued its earnings results on Tuesday. The company reported ($1.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.49) by ($0.30), FiscalAI reports. Allbirds had a negative return on equity of 173.54% and a negative net margin of 53.36%.The business had revenue of $2.76 million for the quarter, compared to the consensus estimate of $29.50 million.

Allbirds Stock Down 0.4%

BIRD traded down $0.01 during midday trading on Wednesday, hitting $2.40. 256,241 shares of the company’s stock traded hands, compared to its average volume of 3,028,324. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.59 and a quick ratio of 0.68. The stock’s fifty day simple moving average is $3.34 and its 200-day simple moving average is $3.92. Allbirds has a one year low of $2.15 and a one year high of $24.31. The company has a market cap of $21.14 million, a PE ratio of -0.26 and a beta of 2.59.

Allbirds Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Thursday, August 20th. Shareholders of record on Thursday, June 25th will be paid a dividend of $0.31 per share.

Wall Street Analyst Weigh In

Several research firms have weighed in on BIRD. Weiss Ratings upgraded Allbirds from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. Wall Street Zen cut Allbirds from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

Insider Activity at Allbirds

In other news, CEO Nadia Catherine Carlsten sold 117,459 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $4.21, for a total transaction of $494,502.39. Following the completion of the sale, the chief executive officer owned 1,414,920 shares in the company, valued at $5,956,813.20. The trade was a 7.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 122,405 shares of company stock valued at $516,690 in the last 90 days. Insiders own 18.76% of the company’s stock.

Hedge Funds Weigh In On Allbirds

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC bought a new position in Allbirds in the 4th quarter worth $54,000. Susquehanna International Group LLP purchased a new stake in Allbirds in the 3rd quarter valued at about $59,000. Bridgeway Capital Management LLC lifted its position in shares of Allbirds by 46.6% in the 4th quarter. Bridgeway Capital Management LLC now owns 34,931 shares of the company’s stock worth $143,000 after buying an additional 11,100 shares during the last quarter. PDT Partners LLC lifted its stake in Allbirds by 30.0% during the second quarter. PDT Partners LLC now owns 15,344 shares of the company’s stock valued at $163,000 after purchasing an additional 3,545 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Allbirds by 4.9% during the third quarter. Vanguard Group Inc. now owns 243,983 shares of the company’s stock valued at $1,383,000 after buying an additional 11,459 shares in the last quarter. 44.07% of the stock is currently owned by institutional investors.

About Allbirds

Allbirds, Inc is a sustainable lifestyle company specializing in environmentally friendly footwear and apparel. The company’s core business centers on designing, manufacturing, and selling shoes that leverage natural and recycled materials to minimize ecological impact. Allbirds’ product portfolio includes lifestyle sneakers, running shoes, and casual slip-ons, all engineered for comfort, durability, and low carbon footprint.

The company’s signature offerings include the Wool Runner series, crafted from New Zealand merino wool, and the Tree line, which uses eucalyptus fiber.