Take off with Allbirds Inc (BIRD): Get ready for trading

Allbirds Inc (NASDAQ: BIRD) stock jumped 5.74% on Friday to $0.92 against a previous-day closing price of $0.87. With 1.57 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.89 million shares. During the session, the Apparel Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $0.9494 whereas the lowest price it dropped to was $0.8301. The 52-week range on BIRD shows that it touched its highest point at $3.45 and its lowest point at $0.64 during that stretch. It currently has a 1-year price target of $1.18. Beta for the stock currently stands at 1.74.

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 BIRD was up-trending over the past week, with a rise of 37.76%, but this was down by -2.66% over a month. Three-month performance dropped to -30.57% while six-month performance fell -21.08%. The stock lost -68.05% in the past year, while it has lost -61.84% so far this year. A look at the trailing 12-month EPS for BIRD yields -0.80 with Next year EPS estimates of -0.63. For the next quarter, that number is -0.22. This implies an EPS growth rate of -60.09% for this year and 23.90% for next year.

Float and Shares Shorts:

At present, 96.77 million BIRD shares are outstanding with a float of 94.69 million shares on hand for trading. On Oct 30, 2023, short shares totaled 5.52 million, which was 3.63% higher than short shares on Sep 28, 2023. In addition to Mr. Joseph Z. Zwillinger as the firm’s Co-Founder, CEO, President, Treasurer, Secretary & Director, Mr. Timothy O. Brown serves as its Co-Founder, Chief Innovation Officer & Director.

Institutional Ownership:

Through their ownership of 39.01% of BIRD’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 26.36% of BIRD, in contrast to 2.22% held by mutual funds. Shares owned by individuals account for 12.13%. As the largest shareholder in BIRD with 9.89% of the stake, Fidelity Management & Research Co holds 9,827,151 shares worth 9,827,151. A second-largest stockholder of BIRD, BlackRock Fund Advisors, holds 5,656,787 shares, controlling over 5.69% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in BIRD, holding 5,442,746 shares or 5.48% stake. With a 3.75% stake in BIRD, the Fidelity Global Innovators Invest is the largest stakeholder. A total of 3,731,076 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.18% of BIRD stock, is the second-largest Mutual Fund holder. It holds 3,156,493 shares valued at 2.73 million. Fidelity Canadian Growth Company holds 2.79% of the stake in BIRD, owning 2,769,719 shares worth 2.4 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BIRD since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BIRD analysts setting a high price target of $1.80 and a low target of $1.00, the average target price over the next 12 months is $1.18. Based on these targets, BIRD could surge 95.65% to reach the target high and rise by 8.7% to reach the target low. Reaching the average price target will result in a growth of 28.26% from current levels.

Summary of Insider Activity:

Insiders traded BIRD stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 5,790 shares were sold. The number of buy transactions has increased to 11 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 1,415,725 while 46,901 shares were sold.