In a filing, Shake Shack Inc revealed its Director Flug Jeffrey unloaded Company’s shares for reported $31315.0 on Apr 04 ’24. In the deal valued at $103.01 per share,304 shares were sold. As a result of this transaction, Flug Jeffrey now holds 3,754 shares worth roughly $0.37 million.
Then, Flug Jeffrey sold 304 shares, generating $32,846 in total proceeds. Upon selling the shares at $108.05, the Director now owns 4,058 shares.
Before that, Meyer Daniel Harris sold 40,000 shares. Shake Shack Inc shares valued at $4,253,629 were divested by the Director at a price of $106.34 per share. As a result of the transaction, Meyer Daniel Harris now holds 480,437 shares, worth roughly $47.33 million.
Oppenheimer reiterated its Shake Shack Inc [SHAK] rating to an Outperform in a research note published on March 22, 2024; the price target was $120. A number of analysts have revised their coverage, including TD Cowen’s analysts, who increased its forecast for the stock in early March from “a Market perform” to “an Outperform”. HSBC Securities began covering SHAK with “Hold” recommendation on December 20, 2023. Raymond James revised its rating on December 06, 2023. It rated SHAK as “a Strong buy” which previously was an “an Outperform”.
Price Performance Review of SHAK
On Tuesday, Shake Shack Inc [NYSE:SHAK] saw its stock fall -3.88% to $98.51. Over the last five days, the stock has lost -4.73%. Shake Shack Inc shares have risen nearly 32.91% since the year began. Nevertheless, the stocks have risen 78.62% over the past one year. While a 52-week high of $110.90 was reached on 03/22/24, a 52-week low of $52.64 was recorded on 01/17/24. SMA at 50 days reached $96.09, while 200 days put it at $74.25. A total of 0.8 million shares were traded, compared to the trading of 0.61 million shares in the previous session.
Levels Of Support And Resistance For SHAK Stock
The 24-hour chart illustrates a support level at 97.10, which if violated will result in even more drops to 95.69. On the upside, there is a resistance level at 101.12. A further resistance level may holdings at 103.73. The Relative Strength Index (RSI) on the 14-day chart is 44.69, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.21, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 98.33%. Stochastics %K at 11.96% indicates the stock is a buying.
How much short interest is there in Shake Shack Inc?
A steep rise in short interest was recorded in Shake Shack Inc stocks on Mar 15, 2024, dropping by -0.25 million shares to a total of 3.25 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 3.5 million shares. There was a decline of -7.69%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 11.97% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.62.
The most recent change occurred on October 19, 2023 when Deutsche Bank began covering the stock and recommended ‘”a Hold”‘ rating along with a $62 price target.
