In a filing, Chipotle Mexican Grill revealed its Chief Brand Officer Brandt Christopher W unloaded Company’s shares for reported $9.22 million on Mar 20 ’24. In the deal valued at $2927.84 per share,3,149 shares were sold. As a result of this transaction, Brandt Christopher W now holds 8,563 shares worth roughly $25.31 million.
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Then, Baldocchi Albert S sold 750 shares, generating $1,956,384 in total proceeds. Upon selling the shares at $2608.51, the Director now owns 37,271 shares.
Before that, Baldocchi Albert S sold 250 shares. Chipotle Mexican Grill shares valued at $652,132 were divested by the Director at a price of $2608.53 per share. As a result of the transaction, Baldocchi Albert S now holds 28,250 shares, worth roughly $83.49 million.
BTIG Research reiterated its Chipotle Mexican Grill [CMG] rating to a Buy in a research note published on February 07, 2024; the price target was $2750. A number of analysts have revised their coverage, including BTIG Research’s analysts, who remained covering the stock and in early January has reiterated a ‘”a Buy”‘ rating for it. Wedbush also remained covering CMG and has decreased its forecast on December 21, 2023 with a “Neutral” recommendation from previously “an Outperform” rating. Deutsche Bank started covering the stock on October 19, 2023. It rated CMG as “a Buy”.
Price Performance Review of CMG
On Tuesday, Chipotle Mexican Grill [NYSE:CMG] saw its stock jump 1.79% to $2955.53. Over the last five days, the stock has gained 5.65%. Chipotle Mexican Grill shares have risen nearly 29.23% since the year began. Nevertheless, the stocks have risen 81.96% over the past one year. While a 52-week high of $3023.98 was reached on 03/20/24, a 52-week low of $1628.90 was recorded on 01/08/24. SMA at 50 days reached $2,599.23, while 200 days put it at $2,175.03. A total of 0.33 million shares were traded, compared to the trading of 0.28 million shares in the previous session.
Levels Of Support And Resistance For CMG Stock
The 24-hour chart illustrates a support level at 2,920.54, which if violated will result in even more drops to 2,885.54. On the upside, there is a resistance level at 2,984.99. A further resistance level may holdings at 3,014.44. The Relative Strength Index (RSI) on the 14-day chart is 81.70, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 120.92, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 16.74%. Stochastics %K at 73.03% indicates the stock is a holding.
How much short interest is there in Chipotle Mexican Grill?
A steep rise in short interest was recorded in Chipotle Mexican Grill stocks on Feb 29, 2024, dropping by -0.13 million shares to a total of 0.68 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 0.81 million shares. There was a decline of -18.43%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.51% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.75.
The most recent change occurred on July 17, 2023 when Oppenheimer resumed its ‘”an Outperform”‘ rating for the stock and retained the price target to $2350.
