The share price of Allbirds Inc. (NASDAQ:BIRD) rose to $2.70 per share on Tuesday from $2.68. While Allbirds Inc. has overperformed by 0.75%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, BIRD fell by -78.17%, with highs and lows ranging from $12.92 to $2.14, whereas the simple moving average fell by -32.14% in the last 200 days.
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On January 05, 2023, Piper Sandler Downgraded Allbirds Inc. (NASDAQ: BIRD) to Neutral. A report published by Morgan Stanley on August 10, 2022, Downgraded its rating to ‘Equal-Weight’ for BIRD. Piper Sandler also rated BIRD shares as ‘Overweight’, setting a target price of $10 on the company’s shares in an initiating report dated July 22, 2022. Stifel July 20, 2022d its ‘Buy’ rating to ‘Hold’ for BIRD, as published in its report on July 20, 2022. Wedbush’s report from April 29, 2022 suggests a price prediction of $8 for BIRD shares, giving the stock a ‘Outperform’ rating. Jefferies also rated the stock as ‘Hold’.
Analysis of Allbirds Inc. (BIRD)
Further, the quarter-over-quarter increase in sales is 15.90%, showing a positive trend in the upcoming months.
To gain a thorough understanding of Allbirds Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -23.80% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 3.50, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and BIRD is recording an average volume of 1.51M. On a monthly basis, the volatility of the stock is set at 6.98%, whereas on a weekly basis, it is put at 7.07%, with a gain of 5.06% over the past seven days. Furthermore, long-term investors anticipate a median target price of $4.90, showing growth from the present price of $2.70, which can serve as yet another indication of whether BIRD is worth investing in or should be passed over.
How Do You Analyze Allbirds Inc. Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.60%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 52.60% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in BIRD shares?
The recent increase in stakes in BIRD appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in BIRD has increased by 6.38% in the first quarter. The company now owns 8,885,500 shares of the stock, with a value of $21.5 million, following the purchase of 532,692 additional shares during the last quarter. BlackRock Fund Advisors made another increased to its shares in BIRD during the first quarter, upping its stake by 1.80%. During the last quarter, the company dropped down 102,724 additional shares for a total stake of worth $14.08 million, bringing number of shares owned by the company to 5,818,923.
During the first quarter, Jackson Square Partners LLC subtracted a -435,952 position in BIRD. Managed Account Advisors LLC purchased an additional 0.66 million shares in the last quarter, increasing its holdings by 26.23%, now holding 3.19 million shares worth $7.71 million. At the end of the first quarter, Franklin Advisers, Inc. increased its BIRD holdings by 0.04% and now holds 3.03 million BIRD shares valued at $7.32 million with the added 1130.0 shares during the period. BIRD shares are owned by institutional investors to the tune of 52.60% at present.