Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Allbirds Inc shares valued at $7,200 were purchased by Mitchell Ann on May 20 ’24. At $0.72 per share, Mitchell Ann acquired 10,000 shares. The insider’s holdings grew to 874,510 shares worth approximately $0.61 million following the completion of this transaction.
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Also, Vernachio Joseph sold 23,935 shares, netting a total of over 21,661 in proceeds. Following the sale of shares at $0.91 each, the insider now holds 321,740 shares.
Before that, Vernachio Joseph had sold 17,341 shares from its account. In a trade valued at $18,173, the Chief Operating Officer traded Allbirds Inc shares for $1.05 each. Upon closing the transaction, the insider’s holdings decreased to 17,341 shares, worth approximately $0.24 million.
As published in a research note from Telsey Advisory Group on May 01, 2023, Allbirds Inc [BIRD] has been rated up from a Market perform to an Outperform and the price target has been revised to $1.50. Analysts at TD Cowen downgraded the stock from ‘”an Outperform”‘ to ‘”a Market perform”‘ outlook in a report released in mid March. As of March 10, 2023, William Blair has decreased its “an Outperform” rating to a “Mkt perform” for BIRD. Earlier on March 10, 2023, Telsey Advisory Group downgraded its rating. Their new recommendation was “a Market perform” for BIRD stock which previously was a “an Outperform”.
Analyzing BIRD Stock Performance
During the last five days, there has been a drop of approximately -3.05%. Over the course of the year, Allbirds Inc shares have dropped approximately -43.10%. Shares of the company reached a 52-week high of $1.4000 on 01/02/24 and a 52-week low of $0.5351 on 04/15/24. A 50-day SMA is recorded $0.6533, while a 200-day SMA reached $0.9645. Nevertheless, trading volume fell to 0.88 million shares from 0.57 million shares the previous day.
Support And Resistance Levels for Allbirds Inc (BIRD)
According to the 24-hour chart, there is a support level at 0.6620, which, if violated, would cause prices to drop to 0.6270. In the upper region, resistance lies at 0.7400. The next price resistance is at 0.7830. RSI (Relative Strength Index) is 53.09 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0344, which suggests the price will decrease in the coming days. Percent R is at 49.20%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
