An Analysis of Shake Shack Inc. (SHAK)’s Potential Price Growth


Shake Shack Inc.’s recently made public that its Chief Operating Officer Koff Zach unloaded Company’s shares for reported $0.3 million on Feb 02. In the deal valued at $60.00 per share,5,000 shares were sold. As a result of this transaction, Koff Zach now holds 31,085 shares worth roughly $ 1.69 million.

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Then, Flug Jeffrey sold 1,864 shares, generating $111,970 in total proceeds. Upon selling the shares at $60.07, the Director now owns 6,983 shares.

Before that, Koff Zach sold 3,900 shares. Shake Shack Inc. shares valued at $214,500 were divested by the Chief Operating Officer at a price of $55.00 per share. As a result of the transaction, Koff Zach now holds 31,085 shares, worth roughly $1.69 million.

Morgan Stanley downgraded its Shake Shack Inc. [SHAK] rating to an Underweight from a an Equal-weight in a research note published on Monday, January 17, 2023; the price target was decreased to $47 from $50. PT values the company’s stock at a premium of -15.91 to its Monday closing price. A number of analysts have revised their coverage, including Wedbush’s analysts, who decreased its forecast for the stock in late December from “an Outperform” to “a Neutral”. BTIG Research also remained covering SHAK and reiterated its “Buy” recommendation on November 07, 2022. Gordon Haskett started covering the stock on July 19, 2022. It rated SHAK as “a Hold”.

Price Performance Review of SHAK

On Monday, Shake Shack Inc. [NYSE:SHAK] saw its stock fall -0.09% to $54.48. On the same session, the stock had its day’s lowest price of $52.01, but rose to a high of $54.97. Over the last five days, the stock has lost -5.81%. Shake Shack Inc. shares have risen nearly 31.18% since the year began. Nevertheless, the stocks have fallen -18.33% over the past one year. While a 52-week high of $71.86 was reached on 02/02/23, a 52-week low of $37.72 was recorded on 01/03/23. SMA at 50 days reached $54.78, while 200 days put it at $49.38. A total of 1.11 million shares were traded, compared to the trading of 0.86 million shares in the previous session.

Levels Of Support And Resistance For SHAK Stock

The 24-hour chart illustrates a support level at 52.67, which if violated will result in even more drops to 50.86. On the upside, there is a resistance level at 55.63. A further resistance level may holdings at 56.78. The Relative Strength Index (RSI) on the 14-day chart is 43.71, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.72, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 67.02%. Stochastics %K at 30.80% indicates the stock is a holding.

How much short interest is there in Shake Shack Inc.?

A steep rise in short interest was recorded in Shake Shack Inc. stocks on Jan 30, 2023, growing by 0.45 million shares to a total of 3.26 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 2.81 million shares. There was a rise of 13.8%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 12.18% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.4.

Shake Shack Inc. [SHAK] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 5,647,626 shares, or roughly 14.38% of the outstanding SHAK shares. In other words, the investor’s shares have fallen by -265,159 from its previous 13-F filing of 5912785.0. Additionally, The Vanguard Group, Inc. increased 1.59% of its stake after which the total value it holdings stand at $223,870,820, while Fred Alger Management LLC reduced -30.64% of its stake to hold $132.23 million in the firm. Over the last quarter, Gilder, Gagnon, Howe & Co. LLC sold -65,801 shares of Shake Shack Inc., while 12 West Capital Management LP sold -139,817 shares. At present, SSgA Funds Management, Inc. is holding 1,279,726 shares valued at $71.4 million. Marshall Wace LLP owned 1,029,880 shares of the company at the time of its most recent 13F filing, worth $57.46 million.

According to FactSet, Shake Shack Inc.’s share price will average $57.53 in the next year, based on opinions of analysts polled by the firm. This is up nearly 2.7 percent from its previous closing price of $54.53. Analysts expect Shake Shack Inc. stock to reach the higher price of $70.00, while the lowest price estimate is $47.00. However, 20 analysts have rated SHAK stock as a Hold in their predictions for 2023.


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