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

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

Birkenstock Trading Up 1.6 %

Birkenstock stock opened at $56.60 on Wednesday. The stock has a 50-day simple moving average of $56.86 and a 200 day simple moving average of $53.32. The stock has a market capitalization of $10.63 billion, a P/E ratio of 52.41, a PEG ratio of 1.18 and a beta of 1.61. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.20 and a current ratio of 2.60. Birkenstock has a 52 week low of $41.00 and a 52 week high of $64.78.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BIRK. FMR LLC lifted its holdings in Birkenstock by 61.4% during the 3rd quarter. FMR LLC now owns 2,128,689 shares of the company’s stock valued at $104,923,000 after purchasing an additional 809,784 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Birkenstock by 581.8% during the 4th quarter. Principal Financial Group Inc. now owns 542,798 shares of the company’s stock worth $30,755,000 after buying an additional 463,191 shares during the last quarter. Verition Fund Management LLC boosted its holdings in shares of Birkenstock by 201.0% during the 3rd quarter. Verition Fund Management LLC now owns 345,852 shares of the company’s stock worth $17,047,000 after buying an additional 230,947 shares during the period. BNP Paribas Financial Markets grew its stake in Birkenstock by 299.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 193,268 shares of the company’s stock valued at $9,526,000 after buying an additional 144,863 shares during the last quarter. Finally, State Street Corp raised its holdings in Birkenstock by 49.4% in the 3rd quarter. State Street Corp now owns 402,899 shares of the company’s stock valued at $19,859,000 after acquiring an additional 133,212 shares during the period. 19.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BIRK shares. Robert W. Baird lifted their target price on Birkenstock from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Hsbc Global Res upgraded shares of Birkenstock to a “strong-buy” rating in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Birkenstock from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Piper Sandler assumed coverage on shares of Birkenstock in a research note on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 price target on the stock. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $70.00 price target on shares of Birkenstock in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.