Bird Global Inc. (BRDS) is looking forward to a strong quarter

Bird Global Inc. (NYSE: BRDS) stock jumped 1.46% on Monday to $0.26 against a previous-day closing price of $0.25. With 0.94 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.36 million shares. During the session, the Rental & Leasing Services company that operates in wider Industrials sector, reached to the highest price of $0.2604 whereas the lowest price it dropped to was $0.2450. The 52-week range on BRDS shows that it touched its highest point at $4.10 and its lowest point at $0.14 during that stretch. It currently has a 1-year price target of $5.47.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BRDS was down-trending over the past week, with a drop of -3.82%, but this was up by 60.56% over a month. Three-month performance dropped to -26.07% while six-month performance fell -45.57%. The stock lost -93.38% in the past year, while it has gained 42.56% so far this year. A look at the trailing 12-month EPS for BRDS yields -1.42 with Next year EPS estimates of -0.32. For the next quarter, that number is -0.09. This implies an EPS growth rate of -259.50% for this year and 27.30% for next year.

Float and Shares Shorts:

At present, 280.91 million BRDS shares are outstanding with a float of 218.73 million shares on hand for trading. On Oct 13, 2022, short shares totaled 19.85 million, which was 6.96% higher than short shares on Sep 14, 2022. In addition to Mr. Travis VanderZanden as the firm’s Founder & Chairman, Mr. Shane Torchiana serves as its Pres & CEO.

Institutional Ownership:

Through their ownership of 64.11% of BRDS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 62.15% of BRDS, in contrast to 5.77% held by mutual funds. Shares owned by individuals account for 18.76%. As the largest shareholder in BRDS with 9.73% of the stake, Fidelity Management & Research Co holds 24,389,411 shares worth 24,389,411. A second-largest stockholder of BRDS, The Vanguard Group, Inc., holds 8,865,168 shares, controlling over 3.54% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in BRDS, holding 8,806,690 shares or 3.51% stake. With a 6.41% stake in BRDS, the Fidelity Blue Chip Growth Fund is the largest stakeholder. A total of 16,072,235 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.54% of BRDS stock, is the second-largest Mutual Fund holder. It holds 6,356,700 shares valued at 1.14 million. Caisse de Dépôt & Placement du Qu holds 1.51% of the stake in BRDS, owning 3,785,139 shares worth 0.68 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BRDS since 1 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With BRDS analysts setting a high price target of $0.40 and a low target of $0.40, the average target price over the next 12 months is $0.40. Based on these targets, BRDS could surge 53.85% to reach the target high and rise by 53.85% to reach the target low. Reaching the average price target will result in a growth of 53.85% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. BRDS will report FY 2022 earnings on 03/13/2024. Analysts have provided yearly estimates in a range of -$0.44 being high and -$0.44 being low. For BRDS, this leads to a yearly average estimate of -$0.44. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Bird Global Inc. surprised analysts by $0.09 when it reported -$0.01 EPS against a consensus estimate of -$0.10. The surprise factor in the prior quarter was -$0.21. Based on analyst estimates, the high estimate for the next quarter is -$0.09 and the low estimate is -$0.09. The average estimate for the next quarter is thus -$0.09.

Summary of Insider Activity:

Insiders traded BRDS stock several times over the past three months with 4 Buys and 0 Sells. In these transactions, 16,757,995 shares were bought while 0 shares were sold. The number of buy transactions has increased to 21 while that of sell transactions has risen to 25 over the past year. The total number of shares bought during that period was 25,180,358 while 2,802,035 shares were sold.

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