Bird Global, Inc. (BRDS) has recently made a remarkable comeback by resuming trading following a significant reverse stock split. This strategic move was aimed at regaining compliance with the esteemed New York Stock Exchange (NYSE), which had issued a delisting notice to the company in June 2022. The notice was a consequence of Bird’s share price consistently trading below the minimum requirement of $1 for a consecutive period of 30 trading days. Despite implementing several cost-cutting measures, Bird struggled to bring its stock price back into the compliance zone.
The reverse stock split took effect on May 18, 2023, at precisely 5:00 pm Pacific Time. This bold move by Bird Global, Inc. was a testament to their determination to overcome adversity and prove their worth in the market. In the second quarter of 2023, Bird reported a revenue of $48.33 million, which witnessed a decline compared to the previous year’s figure of $66.77 million. Additionally, the company incurred a net loss of $9.31 million during this period.
As of September 18, 2023, there were no pre-market trades available for Bird Global, Inc. Class A Common Stock (BRDS), indicating a period of anticipation and uncertainty for the company. However, with their recent reverse stock split and renewed trading activity, Bird Global, Inc. is undoubtedly working diligently to regain stability and regain the trust of investors.
Bird Global, Inc.
Updated on: 19/09/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Neutral
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Strong Sell
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BRDS Stock Analysis: Trading Range, Earnings Decline, and Revenue Growth
On September 19, 2023, BRDS stock had a mixed performance, with the stock opening at the same price as the previous close of $0.70. Throughout the day, the stock had a wide range, trading between $0.70 and $1.60. The trading volume was significantly higher than the average volume for the past three months, reaching 19,712,442 shares traded. The market capitalization of BRDS stood at $9.8 million.
BRDS experienced a decline in earnings growth of -33.32% in the previous year. However, there is no data available regarding earnings growth for the current year or the next five years. On the other hand, the company witnessed an impressive revenue growth of +28.40% in the last year. This indicates that while the company’s profitability may have suffered, its top-line performance has shown improvement.
The price-to-earnings (P/E) ratio for BRDS is not available (NM), suggesting that the company may have negative earnings or no earnings at all. The price-to-sales ratio is 0.20, indicating that investors are paying $0.20 for every dollar of sales generated by the company. The price-to-book ratio is 0.33, which suggests that the stock is trading below its book value.
BRDS is expected to report its next earnings on November 13, 2023. Analysts forecast a loss per share of -$1.25 for the current quarter. In the previous year, the company generated annual revenue of $244.7 million but incurred a significant annual loss of -$358.7 million. The net profit margin for BRDS is -146.63%, indicating that the company’s expenses exceed its revenue.
BRDS stock had an eventful day on September 19, 2023, with a wide range of trading and high trading volume. The company’s earnings growth in the previous year experienced a decline, while revenue growth showed a positive trend. Financial ratios suggest that the stock may be undervalued, but the lack of available data on competitors makes it difficult to assess the company’s performance within the industry. Investors will be eagerly awaiting the next earnings report on November 13, 2023, to gain more insights into BRDS’s financial performance.
BRDS Stock Soars with 599% Increase Forecast, Analysts Recommend Holding
BRDS stock had a remarkable performance on September 19, 2023, based on the information provided. According to CNN Money, the 1 analyst offering a 12-month price forecast for Bird Global Inc has a median target of $10.00, with both the high and low estimates also at $10.00. This median estimate represents a staggering 599.30% increase from the last recorded price of $1.43.
The consensus among the 1 polled investment analyst is to hold stock in Bird Global Inc. This rating has remained steady since August, indicating that there has been no change in the analyst’s recommendation to hold the stock.
In terms of financial performance, the current quarter earnings per share for Bird Global Inc stands at -$1.25. This indicates that the company has experienced a loss in this quarter.
On the other hand, Bird Global Inc reported sales of $71.4 million for the current quarter. This indicates that the company has generated a significant amount of revenue.
Investors should keep an eye on Bird Global Inc’s upcoming reporting date, which is scheduled for November 13. This will provide more insights into the company’s financial performance and may influence the stock’s future movement.
Overall, based on the analyst’s price forecast and the consensus recommendation to hold the stock, it appears that there is optimism surrounding Bird Global Inc’s future prospects. However, investors should conduct further research and consider other factors before making any investment decisions.