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

by · The Cerbat Gem

Birkenstock Holding plc (NYSE:BIRK – Get Free Report) was the target of a significant 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 company’s stock are short sold. Based on an average daily trading volume, of 1,310,000 shares, the short-interest ratio is presently 4.0 days.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BIRK. Bank of America upgraded shares of Birkenstock from a “neutral” rating to a “buy” rating and lifted their target price for the company from $62.00 to $65.00 in a report on Thursday, July 25th. BNP Paribas began coverage on shares of Birkenstock in a report on Thursday, June 20th. They set an “outperform” rating and a $68.00 target price for the company. BMO Capital Markets reiterated an “outperform” rating and set a $60.00 target price on shares of Birkenstock in a report on Friday, August 30th. Evercore ISI restated an “outperform” rating and issued a $77.00 price target (up previously from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $70.00 price target on shares of Birkenstock in a research note on Tuesday, September 24th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Birkenstock presently has an average rating of “Moderate Buy” and a consensus price target of $62.11.

Read Our Latest Stock Analysis on Birkenstock

Hedge Funds Weigh In On Birkenstock

A number of hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in shares of Birkenstock by 33.7% in the third quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock worth $44,000 after buying an additional 225 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Birkenstock in the first quarter worth approximately $40,000. CWM LLC raised its holdings in shares of 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 shares of Birkenstock in the second quarter worth approximately $136,000. Finally, MSA Advisors LLC purchased a new stake in shares of Birkenstock in the second quarter worth approximately $223,000. Institutional investors own 19.93% of the company’s stock.

Birkenstock Stock Performance

NYSE:BIRK traded up $0.18 during mid-day trading on Wednesday, hitting $50.62. 345,500 shares of the company traded hands, compared to its average volume of 1,023,161. The stock’s fifty day moving average price is $52.30 and its 200-day moving average price is $51.81. Birkenstock has a one year low of $36.50 and a one year high of $64.78. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. The firm has a market cap of $9.51 billion and a price-to-earnings ratio of 82.69.

Birkenstock (NYSE:BIRK – Get Free Report) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). The company had revenue of $564.76 million for the quarter, compared to the consensus estimate of $628.70 million. Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. Research analysts anticipate that Birkenstock will post 1.39 earnings per share for the current fiscal year.

Birkenstock Company Profile

(Get Free Report)

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.

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