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 $300,000 were sold by Koff Zach on Feb 02. At $60.00 per share, Koff Zach sold 5,000 shares. The insider’s holdings dropped to 31,085 shares worth approximately $2.05 million following the completion of this transaction.
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Also, Flug Jeffrey sold 1,864 shares, netting a total of over 111,970 in proceeds. Following the sale of shares at $60.07 each, the insider now holds 6,983 shares.
Before that, Koff Zach had sold 3,900 shares from its account. In a trade valued at $214,500, the Chief Operating Officer traded Shake Shack Inc. shares for $55.00 each. Upon closing the transaction, the insider’s holdings decreased to 3,900 shares, worth approximately $2.05 million.
Analyzing SHAK Stock Performance
On Thursday, Shake Shack Inc. [NYSE: SHAK] rose 0.09% to $65.90. The stock’s lowest price that day was $64.66, but it reached a high of $66.13 in the same session. During the last five days, there has been a drop of approximately -1.23%. Over the course of the year, Shake Shack Inc. shares have jumped approximately 58.68%. Shares of the company reached a 52-week high of $71.93 on 05/15/23 and a 52-week low of $40.90 on 01/03/23. A 50-day SMA is recorded $58.49, while a 200-day SMA reached $52.87. Nevertheless, trading volume fell to 0.51 million shares from 0.77 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 65.00, which, if violated, would cause prices to drop to 64.09. In the upper region, resistance lies at 66.47. The next price resistance is at 67.03. RSI (Relative Strength Index) is 60.19 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.98, which suggests the price will decrease in the coming days. Percent R is at 80.52%, 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 steep in short interest on Apr 27, 2023 dropping by -0.2 million shares to 3.73 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2023 was 3.93 million shares. A decline of -5.36% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.98 of the overall float, the days-to-cover ratio (short ratio) decline to 5.98.
Which companies own the most shares of Shake Shack Inc. (SHAK)?
According to BlackRock Fund Advisors filings, the company currently owns 5,429,712 shares, which is about 13.81% of the total SHAK shares outstanding. The investor’s shares have plunged by -217,914 from its previous 13-F filing of 5647626.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $240,242,479. A total of -201,250 shares of Shake Shack Inc. were sold by 12 West Capital Management LP during the quarter, and 395,760 were bought by Champlain Investment Partners LLC. In its current portfolio, SSgA Funds Management, Inc. holds 1,287,829 shares valued at $70.59 million.
In terms of Shake Shack Inc. share price expectations, FactSet research, analysts set an average price target of $67.07 in the next 12 months, down nearly -1.28% from the previous closing price of $65.84. Analysts anticipate Shake Shack Inc. stock to reach $82.00 by 2023, with the lowest price target being $59.00. In spite of this, 18 analysts ranked Shake Shack Inc. stock as a Hold at the end of 2023.