Birkenstock Holding plc (NYSE:BIRK) Sees Large Increase in Short Interest

Birkenstock Holding plc (NYSE:BIRK) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 5,280,000 shares, a growth of 18.7% from the September 15th total of 4,450,000 shares. Approximately 9.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,310,000 shares, the days-to-cover ratio is currently 4.0 days.

Birkenstock Stock Performance

Shares of BIRK stock traded up $0.18 during trading on Wednesday, hitting $50.62. The company’s stock had a trading volume of 345,500 shares, compared to its average volume of 1,023,161. The company has a market cap of $9.51 billion and a PE ratio of 82.69. The company has a current ratio of 2.91, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average of $52.30 and a 200-day moving average of $51.81. Birkenstock has a 52 week low of $36.50 and a 52 week high of $64.78.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). The firm had revenue of $564.76 million during the quarter, compared to analysts’ expectations of $628.70 million. Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. As a group, research analysts anticipate that Birkenstock will post 1.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BIRK shares. UBS Group raised Birkenstock from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $52.00 to $85.00 in a research report on Monday, July 1st. BNP Paribas began coverage on Birkenstock in a report on Thursday, June 20th. They set an “outperform” rating and a $68.00 target price on the stock. Telsey Advisory Group restated an “outperform” rating and issued a $70.00 price objective on shares of Birkenstock in a research note on Tuesday, September 24th. BTIG Research began coverage on Birkenstock in a research report on Thursday, October 10th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Stifel Nicolaus increased their price target on Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $62.11.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BIRK. GAMMA Investing LLC boosted its holdings in shares of Birkenstock by 377.1% during the second quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $36,000 after purchasing an additional 528 shares during the period. Banque Cantonale Vaudoise purchased a new stake in shares of Birkenstock during the first quarter worth about $40,000. CWM LLC lifted its holdings in Birkenstock by 358.2% in the first quarter. CWM LLC now owns 2,181 shares of the company’s stock worth $103,000 after buying an additional 1,705 shares during the period. Acadian Asset Management LLC purchased a new stake in Birkenstock in the second quarter worth about $136,000. Finally, MSA Advisors LLC purchased a new stake in Birkenstock in the second quarter worth about $223,000. Institutional investors own 19.93% of the company’s stock.

About Birkenstock

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.