Bird Global Inc. [BRDS] stock Initiated by Goldman analyst, price target now $6


Bird Global Inc. [NYSE: BRDS] loss -1.44% on the last trading session, reaching $0.47 price per share at the time. The company report on June 24, 2022 that Bird Receives Notice of Non-Compliance with NYSE Trading Share Price Listing Rule.

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Bird Global, Inc. (“Bird” or the “Company”) (NYSE:BRDS), a leader in environmentally friendly electric transportation, today announced that it received notice from the New York Stock Exchange (the “NYSE”) that it is not in compliance with Section 802.01C of the NYSE Listed Company Manual because the average closing price of the Company’s Class A Common Stock was less than $1.00 over a consecutive 30 trading-day period. The notice does not result in the immediate delisting of Bird’s Class A Common Stock from the NYSE.

The Company plans to notify the NYSE by July 5, 2022 that it intends to cure the stock price deficiency and to return to compliance with the NYSE continued listing standard. The Company can regain compliance at any time within the six-month period following receipt of the NYSE notice if on the last trading day of any calendar month during the cure period the Company has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month. The Company intends to consider available alternatives, including, but not limited to, a reverse stock split, subject to stockholder approval no later than at the Company’s next annual meeting of stockholders, if necessary to cure the stock price non-compliance. Under the NYSE’s rules, if the Company determines that it will cure the stock price deficiency by taking an action that will require stockholder approval at its next annual meeting of stockholders, the price condition will be deemed cured if the price promptly exceeds $1.00 per share, and the price remains above that level for at least the following 30 trading days.

Bird Global Inc. represents 269.82 million in outstanding shares, while the company has a total market value of $130.93 million with the latest information. BRDS stock price has been found in the range of $0.462 to $0.7161.

If compared to the average trading volume of 2.59M shares, BRDS reached a trading volume of 16395045 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Bird Global Inc. [BRDS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BRDS shares is $6.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BRDS stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Bird Global Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 07, 2022.

The Average True Range (ATR) for Bird Global Inc. is set at 0.09, with the Price to Sales ratio for BRDS stock in the period of the last 12 months amounting to 0.72. The Price to Book ratio for the last quarter was 0.34, with the Price to Cash per share for the same quarter was set at 0.12.

Trading performance analysis for BRDS stock

Bird Global Inc. [BRDS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.35. With this latest performance, BRDS shares dropped by -40.97% in over the last four-week period, additionally sinking by -92.97% over the last 6 months – not to mention a drop of -95.28% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BRDS stock in for the last two-week period is set at 26.49, with the RSI for the last a single of trading hit 27.49, and the three-weeks RSI is set at 26.84 for Bird Global Inc. [BRDS]. The present Moving Average for the last 50 days of trading for this stock 1.0441, while it was recorded at 0.5097 for the last single week of trading.

Bird Global Inc. [BRDS]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Bird Global Inc. [BRDS] shares currently have an operating margin of -107.21 and a Gross Margin at +17.84. Bird Global Inc.’s Net Margin is presently recorded at -103.28.

Return on Equity for this stock declined to -132.07, with Return on Assets sitting at -70.94.

Bird Global Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.00.

An analysis of insider ownership at Bird Global Inc. [BRDS]

There are presently around $74 million, or 54.40% of BRDS stock, in the hands of institutional investors. The top three institutional holders of BRDS stocks are: FMR LLC with ownership of 33,654,076, which is approximately 2.901% of the company’s market cap and around 12.90% of the total institutional ownership; CRAFT VENTURES GP I, LLC, holding 26,948,429 shares of the stock with an approximate value of $12.75 million in BRDS stocks shares; and VALOR MANAGEMENT LLC, currently with $10.54 million in BRDS stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Bird Global Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 52 institutional holders increased their position in Bird Global Inc. [NYSE:BRDS] by around 10,732,828 shares. Additionally, 20 investors decreased positions by around 699,689 shares, while 17 investors held positions by with 144,297,748 shares. The mentioned changes placed institutional holdings at 155,730,265 shares, according to the latest SEC report filing. BRDS stock had 34 new institutional investments in for a total of 6,968,378 shares, while 7 institutional investors sold positions of 189,079 shares during the same period.