Analysts Take Mixed Stances on Footwear Newbie

Options traders and short sellers are also making their bets

Digital Content Manager
Nov 6, 2023 at 10:17 AM
facebook X logo linkedin

Birkenstock Holding PLC (NYSE:BIRK) made its market debut a little less than one month ago, opening at $41 after setting an initial public offering (IPO) price of $46. The brokerage bunch is now beginning to take stances on the Wall Street newbie, with 12 analysts starting coverage this morning.

Sentiment is all over the place, but Jefferies, Stifel, and Goldman Sachs all assumed "buy" ratings, while J.P. Morgan Securities and Telsey Advisory Group called BIRK "overweight." Several other analysts set price targets as well, with Citigroup issuing the highest at $57, and Bernstein the lowest at $37.15.

The security is down 0.7% to trade at $40.87 at last check. Shares peaked at $42.50 upon their Oct. 11 debut, and last week came just short of this region after bottoming out around the $35 level in mid-October.

Options volume is running at four times the intraday average, though absolute volume is still quite low. So far today, 250 calls have crossed the tape in comparison to just 28 puts, with the December 45 and 35 calls standing out as the most popular contracts, with new positions being opened at the latter.

Short sellers have been building their positions as well. The 2.14 million shares sold short make up 9.8% of Birkenstock stock's available float, though it wouldn't take long for shorts to cover their bearish bets if needed.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI