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

by · The Markets Daily

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BIRK. Acadian Asset Management LLC purchased a new stake in Birkenstock in the second quarter valued at $136,000. Renaissance Technologies LLC lifted its holdings in shares of Birkenstock by 128.8% in the 2nd quarter. Renaissance Technologies LLC now owns 124,000 shares of the company’s stock valued at $6,747,000 after purchasing an additional 69,800 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of Birkenstock in the 2nd quarter valued at about $3,991,000. Interval Partners LP grew its stake in Birkenstock by 240.6% during the 2nd quarter. Interval Partners LP now owns 624,871 shares of the company’s stock worth $33,999,000 after buying an additional 441,419 shares during the last quarter. Finally, Morse Asset Management Inc acquired a new position in Birkenstock during the second quarter worth approximately $491,000. 19.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on BIRK shares. Telsey Advisory Group reaffirmed an “outperform” rating and set a $70.00 price target on shares of Birkenstock in a research report on Thursday, December 19th. HSBC raised Birkenstock from a “hold” rating to a “buy” rating and upped their price target for the company from $58.00 to $60.00 in a research note on Tuesday, December 3rd. Piper Sandler began 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. Hsbc Global Res raised shares of Birkenstock to a “strong-buy” rating in a research report on Tuesday, December 3rd. Finally, Robert W. Baird lifted their price target on shares of Birkenstock from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.31.

View Our Latest Research Report on BIRK

Birkenstock Stock Up 3.7 %

Shares of BIRK traded up $2.17 during midday trading on Monday, reaching $60.02. The stock had a trading volume of 1,681,257 shares, compared to its average volume of 1,436,610. Birkenstock has a 1-year low of $41.00 and a 1-year high of $64.78. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.60 and a quick ratio of 1.20. The company has a market cap of $11.27 billion, a price-to-earnings ratio of 55.57, a PEG ratio of 1.13 and a beta of 1.61. The company’s fifty day simple moving average is $53.92 and its two-hundred day simple moving average is $53.00.

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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