Birkenstock Holding plc (NYSE:BIRK) Short Interest Up 30.4% in April

Birkenstock Holding plc (NYSE:BIRK) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totalling 8,890,000 shares, a growth of 30.4% from the March 31st total of 6,820,000 shares. Approximately 22.2% of the company’s stock are short sold. Based on an average daily trading volume, of 1,830,000 shares, the days-to-cover ratio is currently 4.9 days.

Wall Street Analysts Forecast Growth

BIRK has been the subject of several recent analyst reports. Stifel Nicolaus cut their target price on shares of Birkenstock from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Piper Sandler cut their target price on Birkenstock from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $70.00 price objective on shares of Birkenstock in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.50.

Birkenstock Trading Up 1.9 %

NYSE BIRK opened at $51.49 on Friday. Birkenstock has a 12 month low of $40.56 and a 12 month high of $64.78. The firm has a market capitalization of $9.67 billion, a P/E ratio of 41.52, a PEG ratio of 1.02 and a beta of 1.71. The business has a fifty day simple moving average of $47.04 and a 200 day simple moving average of $51.39. The company has a current ratio of 2.84, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $385.88 million for the quarter, compared to analysts’ expectations of $355.80 million. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. On average, analysts predict that Birkenstock will post 1.77 EPS for the current fiscal year.

Hedge Funds Weigh In On Birkenstock

Institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC grew its holdings in shares of Birkenstock by 66.5% during the first quarter. Signaturefd LLC now owns 841 shares of the company’s stock worth $39,000 after purchasing an additional 336 shares in the last quarter. Legal & General Group Plc grew its stake in Birkenstock by 12.3% in the 4th quarter. Legal & General Group Plc now owns 3,158 shares of the company’s stock worth $179,000 after buying an additional 347 shares in the last quarter. Malaga Cove Capital LLC grew its stake in Birkenstock by 3.5% in the 4th quarter. Malaga Cove Capital LLC now owns 12,108 shares of the company’s stock worth $686,000 after buying an additional 407 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Birkenstock during the 4th quarter valued at $34,000. Finally, Quarry LP lifted its holdings in shares of Birkenstock by 120.3% during the 4th quarter. Quarry LP now owns 1,097 shares of the company’s stock worth $62,000 after acquiring an additional 599 shares during the last quarter. 19.93% of the stock is currently owned by institutional investors.

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.