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

Birkenstock Holding plc (NYSE:BIRKGet Free Report) was the target 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. Based on an average daily trading volume, of 1,220,000 shares, the short-interest ratio is presently 3.4 days. Currently, 10.4% of the shares of the company are sold short.

Birkenstock Price Performance

NYSE:BIRK traded up $2.17 during trading hours on Monday, reaching $60.02. 1,681,257 shares of the company were exchanged, compared to its average volume of 1,436,610. The company has a current ratio of 2.60, a quick ratio of 1.20 and a debt-to-equity ratio of 0.50. The firm has a market cap of $11.27 billion, a PE ratio of 55.57, a price-to-earnings-growth ratio of 1.13 and a beta of 1.61. Birkenstock has a twelve month low of $41.00 and a twelve month high of $64.78. The stock’s 50-day moving average is $53.92 and its 200-day moving average is $53.00.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC grew its holdings in shares of Birkenstock by 370.8% during the third quarter. HighTower Advisors LLC now owns 26,165 shares of the company’s stock worth $1,289,000 after buying an additional 20,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Birkenstock during the 3rd quarter valued at about $1,323,000. Renaissance Technologies LLC raised its holdings in 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 acquiring an additional 69,800 shares during the last quarter. FMR LLC lifted its stake in Birkenstock by 61.4% in the 3rd quarter. FMR LLC now owns 2,128,689 shares of the company’s stock worth $104,923,000 after purchasing an additional 809,784 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in shares of Birkenstock during the 2nd quarter worth approximately $602,000. Institutional investors and hedge funds own 19.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on BIRK shares. Robert W. Baird boosted their price target on Birkenstock from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. HSBC upgraded 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 research report on Tuesday, December 3rd. BTIG Research raised their price target on shares of Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. 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 objective on the stock. Finally, Hsbc Global Res upgraded shares of Birkenstock to a “strong-buy” rating in a research note on Tuesday, December 3rd. 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.31.

View Our Latest Report on Birkenstock

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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