Short Interest in Birkenstock Holding plc (NYSE:BIRK) Grows By 6.6%

Birkenstock Holding plc (NYSE:BIRK) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 5,140,000 shares, a growth of 6.6% from the March 31st total of 4,820,000 shares. Approximately 20.7% of the shares of the company are sold short. Based on an average daily volume of 632,600 shares, the short-interest ratio is presently 8.1 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BIRK. Telsey Advisory Group downgraded Birkenstock from an “outperform” rating to a “market perform” rating and set a $56.00 price target for the company. in a research report on Thursday, February 29th. Piper Sandler boosted their target price on Birkenstock from $56.50 to $61.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. BMO Capital Markets raised their price target on Birkenstock from $50.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Robert W. Baird upped their price objective on shares of Birkenstock from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Finally, UBS Group boosted their price objective on shares of Birkenstock from $51.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.15.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Birkenstock in the fourth quarter valued at approximately $1,886,000. Federated Hermes Inc. purchased a new stake in Birkenstock during the 4th quarter worth about $27,152,000. Tower Research Capital LLC TRC acquired a new stake in Birkenstock in the 4th quarter valued at about $77,000. Venturi Wealth Management LLC purchased a new position in Birkenstock in the fourth quarter worth approximately $83,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Birkenstock in the 4th quarter valued at approximately $3,775,000. 19.93% of the stock is owned by institutional investors and hedge funds.

Birkenstock Price Performance

NYSE BIRK traded down $0.14 on Thursday, reaching $44.34. 40,811 shares of the stock traded hands, compared to its average volume of 723,062. Birkenstock has a 12 month low of $35.83 and a 12 month high of $55.00. The company has a fifty day moving average price of $46.15 and a 200-day moving average price of $45.56. The company has a current ratio of 2.85, a quick ratio of 1.28 and a debt-to-equity ratio of 0.80.

Birkenstock (NYSE:BIRK) last posted its earnings results on Thursday, February 29th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The company had revenue of $303.00 million for the quarter, compared to the consensus estimate of $289.09 million. Birkenstock’s revenue was up 21.9% on a year-over-year basis. As a group, equities research analysts forecast that Birkenstock will post 1.29 EPS for the current fiscal year.

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.