Company Performance - Birkenstock Holdings PLC (NYSE:BIRK) shares increased by 8.8% to 62.45 after reporting better-than-expected fiscal fourth-quarter earnings and revenue [1] - The popularity of close-toed clogs significantly contributed to the sales boost, prompting Piper Sandler to raise its price target to 64.78 on August 26, 2023, and has a year-to-date gain of 23.2% [2] - There has been increased activity in the options market, with 4,814 calls and 1,530 puts exchanged, which is 2.3 times the average daily options volume [2] Short Interest - A portion of the stock's price increase may be attributed to short covering, as short interest accounts for 10.8% of the stock's available float, equating to over three days' worth of buying power [3]
Birkenstock Steps Up in Q4, Stock Surges