No fewer than eight analysts initiated coverage on BIRD
The shares of New Zealand-based retailer Allbirds Inc (NASDAQ:BIRD) are on the rise today, up 2.4% to trade at $20.22 at last glance, after nearly a month of being on the public marketplace. Today, a wave of analysts are starting to cover the eco-friendly shoe company, with the bullish majority citing sustainability as its standout factor, though there are certainly some skeptics. More specifically, no fewer than eight analysts have initiated coverage on BIRD. It's also worth noting that the shoemaker is gearing up for earnings, due out after the close Tuesday, Nov. 30.
On the charts, Allbirds stock has been struggling to rebound from its Nov. 23 low of $18.35 -- its current record low -- after a volatile first month of trading. In just the last weekly period, the equity is down 10%.
Albeit amid lighter absolute volume, BIRD is seeing double its usual call volume. The December 15 put is the most active today, and also happens to be the top open interest position. To follow, the December 30 and 20 calls are also popular.