Arnhold LLC Acquires 46,350 Shares of Allbirds, Inc. (NASDAQ:BIRD)

Arnhold LLC boosted its holdings in shares of Allbirds, Inc. (NASDAQ:BIRD) by 20.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 272,905 shares of the company’s stock after acquiring an additional 46,350 shares during the quarter. Arnhold LLC owned approximately 0.18% of Allbirds worth $334,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hollencrest Capital Management lifted its stake in shares of Allbirds by 100.0% in the third quarter. Hollencrest Capital Management now owns 30,000 shares of the company’s stock worth $33,000 after buying an additional 15,000 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Allbirds by 134.1% in the third quarter. SG Americas Securities LLC now owns 42,338 shares of the company’s stock worth $47,000 after buying an additional 24,255 shares during the last quarter. Fountainhead AM LLC acquired a new stake in shares of Allbirds in the third quarter worth $91,000. Cheyne Capital Management UK LLP acquired a new stake in shares of Allbirds in the third quarter worth $111,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Allbirds in the third quarter worth $209,000. Institutional investors own 44.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wedbush reduced their price objective on shares of Allbirds from $1.00 to $0.90 and set a “neutral” rating for the company in a research note on Wednesday, March 13th. Telsey Advisory Group reiterated a “market perform” rating and set a $1.00 target price on shares of Allbirds in a research note on Wednesday, March 6th. Finally, Piper Sandler cut their target price on shares of Allbirds from $1.60 to $1.00 and set a “neutral” rating for the company in a research note on Wednesday, March 13th.

Allbirds Trading Down 4.8 %

NASDAQ:BIRD traded down $0.03 during trading hours on Tuesday, hitting $0.60. 820,482 shares of the company traded hands, compared to its average volume of 1,000,130. The stock has a market capitalization of $93.63 million, a price-to-earnings ratio of -0.60 and a beta of 1.82. Allbirds, Inc. has a twelve month low of $0.54 and a twelve month high of $1.83. The firm has a 50-day moving average of $0.73 and a 200 day moving average of $0.91.

Allbirds (NASDAQ:BIRD) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.22). The firm had revenue of $71.99 million for the quarter, compared to analyst estimates of $68.88 million. Allbirds had a negative net margin of 60.01% and a negative return on equity of 51.83%. Equities research analysts predict that Allbirds, Inc. will post -0.7 earnings per share for the current fiscal year.

Allbirds Profile

Allbirds, Inc manufactures and sells footwear and apparel products for men and women in the United States and internationally. The company offers a range of lifestyle and performance shoes; and apparel, including classic tees and sweats, socks, and underwear. It sells its products through its retail stores, as well as online.