Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Red Robin Gourmet Burgers Inc shares valued at $686,495 were sold by Archon Capital Management LLC on May 17 ’24. At $6.85 per share, Archon Capital Management LLC sold 100,200 shares. The insider’s holdings dropped to 1,551,587 shares worth approximately $10.33 million following the completion of this transaction.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Also, Archon Capital Management LLC sold 141,905 shares, netting a total of over 1,005,794 in proceeds. Following the sale of shares at $7.09 each, the insider now holds 1,651,787 shares.
Before that, Archon Capital Management LLC had sold 77,000 shares from its account. In a trade valued at $566,512, the 10% Owner traded Red Robin Gourmet Burgers Inc shares for $7.36 each. Upon closing the transaction, the insider’s holdings decreased to 77,000 shares, worth approximately $11.95 million.
As published in their initiating research note from Lake Street on April 30, 2024, Red Robin Gourmet Burgers Inc [RRGB] has been a Buy and the price target has been revised to $16. Analysts at Craig Hallum started covering the stock with ‘”a Buy”‘ outlook in a report released in late April. As of March 01, 2023, The Benchmark Company has increased its “Hold” rating to a “Buy” for RRGB. Earlier on December 21, 2022, Jefferies downgraded its rating. Their new recommendation was “a Hold” for RRGB stock which previously was a “a Buy”.
Analyzing RRGB Stock Performance
During the last five days, there has been a drop of approximately -14.40%. Over the course of the year, Red Robin Gourmet Burgers Inc shares have dropped approximately -46.59%. Shares of the company reached a 52-week high of $12.29 on 01/02/24 and a 52-week low of $5.56 on 04/16/24. A 50-day SMA is recorded $7.51, while a 200-day SMA reached $8.55. Nevertheless, trading volume fell to 0.22 million shares from 0.79 million shares the previous day.
Support And Resistance Levels for Red Robin Gourmet Burgers Inc (RRGB)
According to the 24-hour chart, there is a support level at 6.43, which, if violated, would cause prices to drop to 6.29. In the upper region, resistance lies at 6.73. The next price resistance is at 6.89. RSI (Relative Strength Index) is 34.33 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.80, which suggests the price will decrease in the coming days. Percent R is at 93.06%, indicating bearish price movement. Stochastics%K at buying indicates that the stock is to be held.
