Gerresheimer’s High-Stakes Standoff: Röhrig Piles In While Short Sellers Dig In
13.05.2026 - 14:04:15 | boerse-global.de
While Klaus Röhrig has been aggressively adding to his Gerresheimer position, short sellers show no sign of backing down. The result is a tug-of-war that has pushed the stock sharply higher even as fundamental uncertainties remain unresolved.
Röhrig, the Luxembourg-based investor, now holds a 15.19 percent stake after buying shares at around €25 across three consecutive trading days in early May. That compares with his previous holding of 14.70 percent. According to the mandatory disclosure, the voting rights portion stands at 12.01 percent, with the balance coming through financial instruments managed via Active Ownership Fund and AOC Gecko.
The buying comes at a moment of deep turmoil for the pharmaceutical packaging group. Gerresheimer is still without a certified annual report for 2025, pending a second external audit of its 2024 and 2025 accounting. Management expects to publish the audited statements by June 2026. The delay has cost the stock its place in the SDAX and is keeping many institutional investors on the sidelines.
Additional pressure stems from a planned factory closure. The glass production site in Chicago Heights will shut down at the end of September, eliminating 172 jobs. Output is being relocated to Italy and India. The move contributes to non-cash impairments of up to €240 million for 2025.
Should investors sell immediately? Or is it worth buying Gerresheimer?
Against that backdrop, the stock has staged a remarkable recovery. At the close on May 12, Gerresheimer shares stood at €28.45, up 2.04 percent on the day and roughly 46 percent above their year-to-date low. Over the past month the gain is 64 percent.
That rally has not been enough to shake the bears. Data from May 11 show total short interest at 11.39 percent, well above the 12-month average. Among the major short sellers, Arrowstreet Capital trimmed its net short to 1.99 percent, a reduction of just 0.04 percentage points. Millennium International Management LP moved in the opposite direction, raising its position to 0.71 percent from 0.64 percent. Acadian Asset Management also edged lower, bringing its net short to 0.59 percent.
The technical picture adds to the tension. The 14-day relative strength index hit 71.14 at the start of the week, pushing into territory that many chartists consider overbought. That does not guarantee a reversal, but it does raise the odds of profit-taking. On the positive side, the stock has reclaimed its 50-day moving average near €19.05 as well as the 100-day line – a bullish signal for momentum traders.
Gerresheimer at a turning point? This analysis reveals what investors need to know now.
Fundamentals, however, remain at odds with the price. Analysts see fair value at an average of €24.70, which is below current trading levels. The range of opinions is unusually wide: UBS puts a target at €12.90, while JPMorgan sees €46.00. Such dispersion reflects the deep uncertainty surrounding the company. Performance rating firm boerse.de recently assigned a “D” grade to the stock.
Investors now have a calendar of events to watch. Aside from the delayed annual report due in June, Gerresheimer is slated to release its half-year figures in mid-July. A new date for the postponed annual general meeting also needs to be set. Until those milestones arrive, the standoff between Röhrig’s conviction and the market’s skepticism is likely to keep the stock volatile.
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