Allbirds (NASDAQ:BIRD) Shares Down 1.1% – Time to Sell?

Allbirds, Inc. (NASDAQ:BIRD)’s stock price fell 1.1% on Wednesday . The company traded as low as $6.40 and last traded at $6.54. 74,351 shares traded hands during trading, an increase of 44% from the average session volume of 51,712 shares. The stock had previously closed at $6.61.

Wall Street Analyst Weigh In

Separately, Morgan Stanley decreased their price target on shares of Allbirds from $12.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st.

Allbirds Price Performance

The firm has a market cap of $51.88 million, a price-to-earnings ratio of -0.41 and a beta of 1.60. The business has a 50-day moving average of $6.89 and a 200-day moving average of $9.33.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. grew its stake in shares of Allbirds by 262.5% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 42,521 shares of the company’s stock valued at $296,000 after buying an additional 30,791 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Allbirds in the 4th quarter valued at about $70,000. Jane Street Group LLC acquired a new position in shares of Allbirds during the 4th quarter worth about $104,000. JPMorgan Chase & Co. increased its stake in shares of Allbirds by 169.4% during the 4th quarter. JPMorgan Chase & Co. now owns 6,232 shares of the company’s stock worth $43,000 after purchasing an additional 3,919 shares during the last quarter. Finally, Performa Ltd US LLC raised its holdings in shares of Allbirds by 64.0% in the 4th quarter. Performa Ltd US LLC now owns 8,200 shares of the company’s stock valued at $57,000 after purchasing an additional 3,200 shares during the period. Institutional investors and hedge funds own 44.07% of the company’s stock.

About Allbirds

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.