Birkenstock Holding plc (NYSE:BIRK) Short Interest Update

Birkenstock Holding plc (NYSE:BIRK) was the recipient of a large 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. Based on an average daily volume of 1,220,000 shares, the days-to-cover ratio is currently 3.4 days. Currently, 10.4% of the shares of the company are sold short.

Birkenstock Price Performance

BIRK stock traded up $2.17 during mid-day trading on Friday, reaching $60.02. 1,681,257 shares of the company traded hands, compared to its average volume of 1,436,610. The company has a fifty day moving average price of $53.92 and a 200-day moving average price of $53.00. Birkenstock has a 52-week low of $41.00 and a 52-week high of $64.78. The company has a market capitalization of $11.27 billion, a P/E ratio of 55.57, a P/E/G ratio of 1.13 and a beta of 1.61. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.60 and a quick ratio of 1.20.

Hedge Funds Weigh In On Birkenstock

Hedge funds have recently bought and sold shares of the company. Oak Thistle LLC bought a new stake in Birkenstock during the fourth quarter valued at $458,000. Geode Capital Management LLC raised its holdings in shares of Birkenstock by 50.5% in the 3rd quarter. Geode Capital Management LLC now owns 188,714 shares of the company’s stock valued at $9,302,000 after acquiring an additional 63,289 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Birkenstock in the 3rd quarter valued at about $1,536,000. Y Intercept Hong Kong Ltd boosted its position in shares of Birkenstock by 313.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 20,028 shares of the company’s stock valued at $987,000 after acquiring an additional 15,189 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Birkenstock by 49.4% during the third quarter. State Street Corp now owns 402,899 shares of the company’s stock worth $19,859,000 after purchasing an additional 133,212 shares in the last quarter. Hedge funds and other institutional investors own 19.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on BIRK. Robert W. Baird raised their price objective on shares of Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. UBS Group raised their price target on shares of Birkenstock from $83.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Piper Sandler assumed coverage on shares of Birkenstock in a report on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on Birkenstock from $65.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, BTIG Research boosted their target price on Birkenstock from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.31.

Birkenstock Company Profile

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.