Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Shake Shack Inc shares valued at $32,846 were sold by Flug Jeffrey on Mar 04 ’24. At $108.05 per share, Flug Jeffrey sold 304 shares. The insider’s holdings dropped to 4,058 shares worth approximately $0.41 million following the completion of this transaction.
Also, Meyer Daniel Harris sold 40,000 shares, netting a total of over 4,253,629 in proceeds. Following the sale of shares at $106.34 each, the insider now holds 480,437 shares.
Before that, Meyer Daniel Harris had sold 6,034 shares from its account. In a trade valued at $603,877, the Director traded Shake Shack Inc shares for $100.08 each. Upon closing the transaction, the insider’s holdings decreased to 6,034 shares, worth approximately $52.22 million.
As published in a research note from Oppenheimer on March 22, 2024, Shake Shack Inc [SHAK] has been retained to an Outperform and the price target has been revised to $120. Analysts at TD Cowen upgraded the stock from ‘”a Market perform”‘ to ‘”an Outperform”‘ outlook in a report released in early March. As of December 20, 2023, HSBC Securities has initiated its “Hold” rating for SHAK. Earlier on December 06, 2023, Raymond James upgraded its rating. Their new recommendation was “a Strong buy” for SHAK stock which previously was a “an Outperform”.
Analyzing SHAK Stock Performance
During the last five days, there has been a drop of approximately -3.79%. Over the course of the year, Shake Shack Inc shares have jumped approximately 35.36%. Shares of the company reached a 52-week high of $110.90 on 03/22/24 and a 52-week low of $64.16 on 01/17/24. A 50-day SMA is recorded $94.40, while a 200-day SMA reached $73.86. Nevertheless, trading volume fell to 0.61 million shares from 1.15 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 98.82, which, if violated, would cause prices to drop to 97.32. In the upper region, resistance lies at 103.01. The next price resistance is at 105.70. RSI (Relative Strength Index) is 47.98 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.74, which suggests the price will decrease in the coming days. Percent R is at 96.97%, indicating bearish price movement. Stochastics %K at buying 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 Mar 15, 2024 dropping by -0.25 million shares to 3.25 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.5 million shares. A decline of -7.69% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.62 of the overall float, the days-to-cover ratio (short ratio) decline to 2.62.
