An Analysis of Allbirds Inc. (BIRD)’s Potential Price Growth


Allbirds Inc.’s recently made public that its Chief Financial Officer Bufano Michael J unloaded Company’s shares for reported $29807.0 on Mar 02. In the deal valued at $2.82 per share,10,570 shares were sold. As a result of this transaction, Bufano Michael J now holds 323,188 shares worth roughly $ 0.37 million.

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Then, Vernachio Joseph sold 6,784 shares, generating $19,131 in total proceeds. Upon selling the shares at $2.82, the Chief Operating Officer now owns 373,938 shares.

Before that, Zwillinger Joseph sold 7,256 shares. Allbirds Inc. shares valued at $19,954 were divested by the Co-Chief Executive Officer at a price of $2.75 per share. As a result of the transaction, Zwillinger Joseph now holds 0 shares, worth roughly $0.0.

TD Cowen downgraded its Allbirds Inc. [BIRD] rating to a Market perform from a an Outperform in a research note published on Monday, March 13, 2023; the price target was decreased to $1.50 from $4. PT values the company’s stock at a premium of 23.33 to its Monday closing price. A number of analysts have revised their coverage, including William Blair’s analysts, who decreased its forecast for the stock in early March from “an Outperform” to “a Mkt perform”. Telsey Advisory Group also remained covering BIRD and has decreased its forecast on March 10, 2023 with a “Market perform” recommendation from previously “an Outperform” rating. Guggenheim revised its rating on March 10, 2023. It rated BIRD as “a Neutral” which previously was an “a Buy”.

Price Performance Review of BIRD

On Monday, Allbirds Inc. [NASDAQ:BIRD] saw its stock fall -8.00% to $1.15. On the same session, the stock had its day’s lowest price of $1.10, but rose to a high of $1.30. Over the last five days, the stock has lost -59.79%. Allbirds Inc. shares have fallen nearly -52.48% since the year began. Nevertheless, the stocks have fallen -80.80% over the past one year. While a 52-week high of $6.85 was reached on 02/02/23, a 52-week low of $1.20 was recorded on 03/13/23. SMA at 50 days reached $2.6313, while 200 days put it at $3.5782. A total of 15.14 million shares were traded, compared to the trading of 2.51 million shares in the previous session.

Levels Of Support And Resistance For BIRD Stock

The 24-hour chart illustrates a support level at 1.0667, which if violated will result in even more drops to 0.9833. On the upside, there is a resistance level at 1.2667. A further resistance level may holdings at 1.3833. The Relative Strength Index (RSI) on the 14-day chart is 19.15, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.9526, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 97.49%. Stochastics %K at 3.86% indicates the stock is a buying.

How much short interest is there in Allbirds Inc.?

A steep rise in short interest was recorded in Allbirds Inc. stocks on Jan 30, 2023, growing by 0.19 million shares to a total of 6.3 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 6.11 million shares. There was a rise of 3.02%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 6.54% of the overall stock float, the days-to-cover ratio (short ratio) rose to 6.45.

Allbirds Inc. [BIRD] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 7,045,724 shares, or roughly 7.32% of the outstanding BIRD shares. In other words, the investor’s shares have fallen by -1,839,776 from its previous 13-F filing of 8885500.0. Additionally, BlackRock Fund Advisors increased 6.36% of its stake after which the total value it holdings stand at $17,388,820, while Managed Account Advisors LLC reduced -1.98% of its stake to hold $8.93 million in the firm. Over the last quarter, Newton Investment Management Nort sold -108,690 shares of Allbirds Inc., while Franklin Advisers, Inc. sold -1,091,120 shares. At present, Geode Capital Management LLC is holding 1,779,674 shares valued at $5.09 million. SSgA Funds Management, Inc. owned 1,733,062 shares of the company at the time of its most recent 13F filing, worth $4.96 million.

According to FactSet, Allbirds Inc.’s share price will average $3.19 in the next year, based on opinions of analysts polled by the firm. This is up nearly 60.0 percent from its previous closing price of $1.25. Analysts expect Allbirds Inc. stock to reach the higher price of $9.00, while the lowest price estimate is $1.50. However, 13 analysts have rated BIRD stock as a Hold in their predictions for 2023.


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