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

Birkenstock Holding plc (NYSE:BIRK - Get Free Report) saw a significant growth in short interest in 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 stock are short sold. Based on an average daily volume of 632,600 shares, the days-to-cover ratio is currently 8.1 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BIRK. Venturi Wealth Management LLC purchased a new position in Birkenstock in the fourth quarter valued at $83,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Birkenstock during the 4th quarter worth about $1,886,000. Federated Hermes Inc. purchased a new stake in Birkenstock during the 4th quarter worth about $27,152,000. New York State Common Retirement Fund purchased a new stake in Birkenstock during the 4th quarter worth about $1,067,000. Finally, Amalgamated Bank purchased a new stake in Birkenstock during the 4th quarter worth about $233,000. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

Birkenstock Trading Up 0.4 %

Shares of NYSE BIRK traded up $0.16 during trading on Thursday, reaching $44.64. The stock had a trading volume of 320,571 shares, compared to its average volume of 726,480. The business's 50-day moving average price is $46.15 and its 200-day moving average price is $45.56. Birkenstock has a fifty-two week low of $35.83 and a fifty-two week high of $55.00. 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 - Get Free Report) last released its earnings results on Thursday, February 29th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). The company had revenue of $303.00 million during the quarter, compared to analysts' expectations of $289.09 million. The firm's revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, analysts forecast that Birkenstock will post 1.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.