Birkenstock Holding plc (NYSE:BIRK) Sees Significant Growth in Short Interest

Birkenstock Holding plc (NYSE:BIRK) was the recipient of a significant increase in short interest in 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 trading volume, of 1,220,000 shares, the days-to-cover ratio is presently 3.4 days. Approximately 10.4% of the shares of the stock are short sold.

Birkenstock Stock Performance

Shares of NYSE BIRK opened at $59.25 on Monday. The stock’s fifty day simple moving average is $56.63 and its 200 day simple moving average is $53.29. The stock has a market capitalization of $11.13 billion, a price-to-earnings ratio of 54.86, a PEG ratio of 1.22 and a beta of 1.61. 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 52-week low of $41.00 and a 52-week high of $64.78.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BIRK shares. Hsbc Global Res raised Birkenstock to a “strong-buy” rating in a report on Tuesday, December 3rd. HSBC upgraded shares of Birkenstock from a “hold” rating to a “buy” rating and upped their target price for the company from $58.00 to $60.00 in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Birkenstock from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. BTIG Research upped their price objective on shares of Birkenstock from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Piper Sandler initiated coverage on shares of Birkenstock in a research note on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 target price for the company. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $68.31.

Institutional Trading of Birkenstock

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

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.