In today’s recent session, 0.46 million shares of the Allbirds Inc. (NASDAQ:BIRD) were traded. Most recently the company’s share price was $1.20, and it changed around $0.03 or 2.56% from the last close, which brings the market valuation of the company to $182.10M. BIRD at last check was trading at a discount to its 52-week high of $6.06, offering almost -405.0% off that amount. The share price’s 52-week low was $1.03, which indicates that the recent value has risen by an impressive 14.17% since then. We note from Allbirds Inc.’s average daily trading volume that its 10-day average is 1.11 million shares, with the 3-month average coming to 2.12 million.
Allbirds Inc. stock received a consensus recommendation rating of a Hold, based on a mean score of 2.80. If we narrow it down even further, the data shows that 0 out of 12 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 11 recommended BIRD as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Allbirds Inc. is expected to report earnings per share of -$0.22 for the current quarter.
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Allbirds Inc. (NASDAQ:BIRD) trade information
Instantly BIRD has been showing a green trend so far today with a performance of 2.56% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 1.2800 on Monday, 05/22/23 increased the stock’s daily price by 6.25%. The company’s shares are currently down -50.42% year-to-date, but still down -2.45% over the last five days. On the other hand, Allbirds Inc. (NASDAQ:BIRD) is -0.01% down in the 30-day period. We can see from the shorts that 5.85 million shares have been sold at a short interest cover period of 5.01 day(s).
The consensus price target as assigned by Wall Street analysts is $2.06, which translates to bulls needing to increase their stock price by 41.75% from its current value. Analyst projections state that BIRD is forecast to be at a low of $1.00 and a high of $4.00. In order for the stock price to hit the forecast high, the stock would need to plunge -233.33% from its current level, while the stock would need to crash 16.67% from its current level to reach the projected low.
Allbirds Inc. (BIRD) estimates and forecasts
Allbirds Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -58.91 percent over the past six months and at a -46.43% annual growth rate that is well below the industry average of -0.30%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will loss -83.30% in revenue this quarter, and will report a decrease of -33.30% in the next quarter. The year-over-year growth rate is expected to be -11.00%, down from the previous year.
Consensus estimates provided by 10 financial analysts predict the company will bring in an average of $66.81 million in revenue for the current quarter. 10 analysts expect Allbirds Inc. to make $61.62 million in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $78.17 million and $67.78 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -14.50%. Forecasts for the next quarter put sales growth at -9.10%.
Allbirds Inc.’s next quarterly earnings report is expected to be released on May 09.
Allbirds Inc. (NASDAQ:BIRD)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 4.43% of Allbirds Inc. shares, and 44.80% of them are in the hands of institutional investors. The stock currently has a share float of 46.88%. Allbirds Inc. stock is held by 207 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 7.27% of the shares, which is about 7.1 million shares worth $8.51 million.
FMR, LLC, with 7.07% or 6.9 million shares worth $8.29 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Dec 30, 2022. The former held 3.16 million shares worth $7.64 million, making up 3.25% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 2.14 million shares worth around $6.12 million, which represents about 2.20% of the total shares outstanding.