Birkenstock Holding plc (NYSE:BIRK) Short Interest Down 13.5% in July

Birkenstock Holding plc (NYSE:BIRK) was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 3,510,000 shares, a decline of 13.5% from the July 15th total of 4,060,000 shares. Currently, 9.3% of the shares of the company are sold short. Based on an average trading volume of 1,080,000 shares, the short-interest ratio is presently 3.3 days.

Hedge Funds Weigh In On Birkenstock

Several institutional investors have recently bought and sold shares of BIRK. GAMMA Investing LLC lifted its stake in Birkenstock by 377.1% in the second quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock valued at $36,000 after buying an additional 528 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in Birkenstock in the 1st quarter valued at about $40,000. CWM LLC raised its stake in Birkenstock by 358.2% during the 1st quarter. CWM LLC now owns 2,181 shares of the company’s stock valued at $103,000 after acquiring an additional 1,705 shares during the last quarter. Venturi Wealth Management LLC lifted its position in Birkenstock by 123.5% during the 1st quarter. Venturi Wealth Management LLC now owns 3,800 shares of the company’s stock worth $180,000 after acquiring an additional 2,100 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of Birkenstock in the 2nd quarter valued at approximately $136,000. 19.93% of the stock is owned by institutional investors and hedge funds.

Birkenstock Stock Down 1.5 %

BIRK traded down $0.94 during trading hours on Monday, reaching $61.95. The company’s stock had a trading volume of 502,294 shares, compared to its average volume of 874,138. The business’s 50-day moving average is $57.37 and its 200-day moving average is $51.08. The company has a current ratio of 2.87, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. Birkenstock has a fifty-two week low of $35.83 and a fifty-two week high of $63.89.

Birkenstock (NYSE:BIRK) last issued its quarterly earnings data on Thursday, May 30th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.09. The company had revenue of $522.51 million during the quarter, compared to analysts’ expectations of $499.98 million. On average, research analysts anticipate that Birkenstock will post 1.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BIRK shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $70.00 target price on shares of Birkenstock in a report on Thursday, June 13th. Stifel Nicolaus raised their price target on shares of Birkenstock from $54.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Robert W. Baird increased their target price on Birkenstock from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, May 31st. JPMorgan Chase & Co. boosted their price target on Birkenstock from $56.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, June 3rd. Finally, BMO Capital Markets increased their price objective on Birkenstock from $54.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $60.29.

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.