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 $31,315 were sold by Flug Jeffrey on Apr 04 ’24. At $103.01 per share, Flug Jeffrey sold 304 shares. The insider’s holdings dropped to 3,754 shares worth approximately $0.39 million following the completion of this transaction.
Also, Flug Jeffrey sold 304 shares, netting a total of over 32,846 in proceeds. Following the sale of shares at $108.05 each, the insider now holds 4,058 shares.
Before that, Meyer Daniel Harris had sold 40,000 shares from its account. In a trade valued at $4,253,629, the Director traded Shake Shack Inc shares for $106.34 each. Upon closing the transaction, the insider’s holdings decreased to 40,000 shares, worth approximately $49.64 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 surge of approximately 3.81%. Over the course of the year, Shake Shack Inc shares have jumped approximately 39.41%. 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 $101.85, while a 200-day SMA reached $76.03. Nevertheless, trading volume fell to 1.04 million shares from 0.68 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 101.82, which, if violated, would cause prices to drop to 100.31. In the upper region, resistance lies at 105.49. The next price resistance is at 107.65. RSI (Relative Strength Index) is 56.51 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 5.60, which suggests the price will increase in the coming days. Percent R is at 22.73%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
