Birkenstock Holding plc (NYSE:BIRK – Get Free Report) saw a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 4,450,000 shares, a drop of 8.1% from the August 31st total of 4,840,000 shares. Approximately 7.7% of the company’s shares are sold short. Based on an average daily volume of 1,460,000 shares, the short-interest ratio is currently 3.0 days.
Birkenstock Stock Down 2.7 %
BIRK traded down $1.33 during trading on Tuesday, hitting $47.96. The company had a trading volume of 1,103,529 shares, compared to its average volume of 1,017,746. Birkenstock has a 1-year low of $35.83 and a 1-year high of $64.78. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49. The company has a market cap of $9.01 billion and a PE ratio of 59.32. The business has a 50-day moving average of $54.04 and a 200-day moving average of $51.63.
Birkenstock (NYSE:BIRK – Get Free Report) last issued its earnings results on Thursday, August 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). The company had revenue of $564.76 million during the quarter, compared to analyst estimates of $628.70 million. Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. As a group, analysts forecast that Birkenstock will post 1.37 earnings per share for the current year.
Analysts Set New Price Targets
Read Our Latest Stock Report on Birkenstock
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in BIRK. GAMMA Investing LLC lifted its stake in Birkenstock by 377.1% during the second quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $36,000 after purchasing an additional 528 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Birkenstock during the first quarter worth $40,000. CWM LLC lifted its position in shares of Birkenstock by 358.2% in the 1st quarter. CWM LLC now owns 2,181 shares of the company’s stock worth $103,000 after buying an additional 1,705 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Birkenstock in the 2nd quarter valued at about $136,000. Finally, MSA Advisors LLC bought a new stake in shares of Birkenstock during the 2nd quarter valued at about $223,000. Institutional investors and hedge funds own 19.93% of the company’s stock.
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.
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