Birkenstock Holding plc (NYSE:BIRK) Short Interest Update

Birkenstock Holding plc (NYSE:BIRK) saw a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 4,130,000 shares, an increase of 6.2% from the December 15th total of 3,890,000 shares. Based on an average daily trading volume, of 1,220,000 shares, the days-to-cover ratio is currently 3.4 days. Currently, 10.4% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Bamco Inc. NY grew its holdings in Birkenstock by 2.6% in the third quarter. Bamco Inc. NY now owns 3,102,507 shares of the company’s stock valued at $152,923,000 after purchasing an additional 78,093 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Birkenstock by 30.4% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,000,000 shares of the company’s stock valued at $163,230,000 after acquiring an additional 700,000 shares during the last quarter. FMR LLC increased its holdings in Birkenstock by 61.4% during the 3rd quarter. FMR LLC now owns 2,128,689 shares of the company’s stock valued at $104,923,000 after acquiring an additional 809,784 shares in the last quarter. Millennium Management LLC acquired a new position in Birkenstock during the second quarter worth about $61,972,000. Finally, Ghisallo Capital Management LLC lifted its holdings in shares of Birkenstock by 800.0% in the second quarter. Ghisallo Capital Management LLC now owns 900,000 shares of the company’s stock valued at $48,969,000 after purchasing an additional 800,000 shares in the last quarter. 19.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Birkenstock from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Telsey Advisory Group restated an “outperform” rating and issued a $70.00 price objective on shares of Birkenstock in a research note on Thursday, December 19th. UBS Group upped their target price on shares of Birkenstock from $83.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, December 19th. HSBC raised Birkenstock from a “hold” rating to a “buy” rating and raised their price target for the stock from $58.00 to $60.00 in a report on Tuesday, December 3rd. Finally, Piper Sandler started coverage on Birkenstock in a research report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 price objective for the company. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Birkenstock presently has an average rating of “Moderate Buy” and a consensus target price of $68.31.

Birkenstock Stock Performance

NYSE:BIRK opened at $60.02 on Tuesday. The company has a quick ratio of 1.20, a current ratio of 2.60 and a debt-to-equity ratio of 0.50. Birkenstock has a fifty-two week low of $41.00 and a fifty-two week high of $64.78. The firm’s fifty day simple moving average is $54.19 and its 200-day simple moving average is $53.02. The stock has a market cap of $11.27 billion, a PE ratio of 55.57, a price-to-earnings-growth ratio of 1.13 and a beta of 1.61.

Birkenstock Company Profile

Birkenstock Holding plc manufactures and sells footwear products. It also offers sandals, shoes, closed-toe silhouettes, skincare products, and accessories. The company sells its products through e-commerce sites and a network of owned retail stores, as well as business-to-business channels. It operates in the United States, Brazil, Canada, Mexico, Europe, APMA, and internationally.