Birkenstock Holding plc (NYSE:BIRK) Short Interest Up 6.2% in January

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

Birkenstock Stock Performance

BIRK stock opened at $56.60 on Wednesday. Birkenstock has a twelve month low of $41.00 and a twelve month high of $64.78. The company has a quick ratio of 1.20, a current ratio of 2.60 and a debt-to-equity ratio of 0.50. The company has a market cap of $10.63 billion, a P/E ratio of 52.41, a price-to-earnings-growth ratio of 1.18 and a beta of 1.61. The business’s fifty day moving average is $56.86 and its 200-day moving average is $53.32.

Institutional Trading of Birkenstock

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP acquired a new position in Birkenstock in the third quarter valued at about $25,000. MetLife Investment Management LLC lifted its holdings in shares of Birkenstock by 52.2% during the 3rd quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock valued at $34,000 after purchasing an additional 236 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Birkenstock by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock valued at $44,000 after purchasing an additional 225 shares during the period. Amalgamated Bank increased its stake in Birkenstock by 51.8% during the 3rd quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock worth $102,000 after purchasing an additional 707 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Birkenstock during the 4th quarter worth approximately $143,000. 19.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on BIRK. Piper Sandler started coverage on shares of Birkenstock in a research report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 price objective for the company. BTIG Research upped their price target on Birkenstock from $60.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Robert W. Baird lifted their price objective on Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. BMO Capital Markets upped their target price on Birkenstock from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Finally, HSBC upgraded shares of Birkenstock from a “hold” rating to a “buy” rating and lifted their price target for the stock from $58.00 to $60.00 in a research note on Tuesday, December 3rd. 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $68.31.

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.