Birkenstock Stock's Short-Term Rally Only Halfway Finished

Core Viewpoint - Birkenstock Holding (BIRK) has shown a steady upward trend since hitting a two-year low on November 6, 2023, with the stock currently trading at $45.02, marking a 0.8% increase from the previous close [1] Group 1: Stock Performance - The stock has broken past several moving averages, recently closing above the 80-day moving average for the first time in 21 trading days [1] - Historical data indicates that after similar crossover events, BIRK has increased 100% of the time one month later, averaging a gain of 15.7% [2] - A potential price target based on historical performance could see shares rise above $52, an area that previously rejected rallies in July and August [2] Group 2: Short Interest - Short interest in BIRK has decreased by 16% in the last two reporting periods, with 7.88 million shares sold short, representing 14% of the stock's available float [3] - It would take shorts nearly four days to cover their positions at the current average trading pace [3] Group 3: Upcoming Earnings - BIRK is set to release its fiscal fourth-quarter earnings report on December 18, 2023, after market close [5] - Historically, the stock has averaged a post-earnings move of 6.3% over the last two years, with a notable 2% increase after last December's earnings and a nearly 6% jump following the May report [5] - The options market is currently pricing in a larger-than-usual post-earnings move of 11.2% [5]