The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Shake Shack Inc. shares valued at $225,000 were sold by Koff Zach on Jul 14. At $45.00 per share, Koff Zach sold 5,000 shares. The insider’s holdings dropped to 31,085 shares worth approximately $1.4 million following the completion of this transaction.
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Also, Meyer Daniel Harris purchased 21,000 shares, netting a total of over 831,235 in proceeds. Following the buying of shares at $39.58 each, the insider now holds 576,364 shares.
As published in their initiating research note from Gordon Haskett on July 19, 2022, Shake Shack Inc. [SHAK] has been a Hold and the price target has been revised to $50. This represents a 10.24% premium over Thursday’s closing price. Analysts at Raymond James upgraded the stock from ‘”an Underperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in mid May. As of May 16, 2022, Northcoast has increased its “Neutral” rating to a “Buy” for SHAK. Earlier on December 03, 2021, UBS initiated its rating. Their recommendation was “a Neutral” for SHAK stock.
Analyzing SHAK’s Price Performance
On Thursday, Shake Shack Inc. [NYSE: SHAK] plunged -7.43% to $44.88. The stock’s lowest price that day was $43.91, but it reached a high of $48.24 in the same session. During the last five days, there has been a drop of approximately -10.93%. Over the course of the year, Shake Shack Inc. shares have dropped approximately -37.80%. Shares of the company reached a 52-week high of $79.62 on 01/11/22 and a 52-week low of $37.72 on 06/16/22. A 50-day SMA is recorded $49.33, while a 200-day SMA reached $57.73. Nevertheless, trading volume fell to 1.16 million shares from 0.75 million shares the previous day.
Support And Resistance Levels for Shake Shack Inc. (SHAK)
According to the 24-hour chart, there is a support level at 43.11, which, if violated, would cause prices to drop to 41.35. In the upper region, resistance lies at 47.44. The next price resistance is at 50.01. RSI (Relative Strength Index) is 39.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.07, which suggests the price will decrease in the coming days. Percent R is at 87.22%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Shake Shack Inc. subject to short interest?
Stocks of Shake Shack Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.25 million shares to 4.29 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.04 million shares. A jump of 5.83% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.34 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.34.
Which companies own the most shares of Shake Shack Inc. (SHAK)?
According to BlackRock Fund Advisors filings, the company currently owns 5,912,785 shares, which is about 15.06% of the total SHAK shares outstanding. The investor’s shares have appreciated by 98,318 from its previous 13-F filing of 5814467.0 shares. With the completion of the buy transaction, Fred Alger Management LLC’s stake is now worth $245,609,233. The Vanguard Group, Inc. reduced a -5.61% interest valued at $178.7 million while 12 West Capital Management LP sold a -1,425 stake. A total of -491,857 shares of Shake Shack Inc. were sold by Gilder, Gagnon, Howe & Co. LLC during the quarter, and 14,267 were bought by SSgA Funds Management, Inc.. In its current portfolio, Van Berkom & Associates, Inc. holds 1,047,116 shares valued at $49.91 million.
In terms of Shake Shack Inc. share price expectations, FactSet research, analysts set an average price target of $55.95 in the next 12 months, up nearly 13.45% from the previous closing price of $48.48. Analysts anticipate Shake Shack Inc. stock to reach $69.00 by 2022, with the lowest price target being $44.00. In spite of this, 22 analysts ranked Shake Shack Inc. stock as an Overweight at the end of 2022.