Red Robin Gourmet Burgers Inc’s recently made public that its 10% Owner Archon Capital Management LLC unloaded Company’s shares for reported $0.69 million on May 17 ’24. In the deal valued at $6.85 per share,100,200 shares were sold. As a result of this transaction, Archon Capital Management LLC now holds 1,551,587 shares worth roughly $8.81 million.
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Then, Archon Capital Management LLC sold 141,905 shares, generating $1,005,794 in total proceeds. Upon selling the shares at $7.09, the 10% Owner now owns 1,651,787 shares.
Before that, Archon Capital Management LLC sold 77,000 shares. Red Robin Gourmet Burgers Inc shares valued at $566,512 were divested by the 10% Owner at a price of $7.36 per share. As a result of the transaction, Archon Capital Management LLC now holds 1,793,692 shares, worth roughly $10.19 million.
Lake Street initiated its Red Robin Gourmet Burgers Inc [RRGB] rating to a Buy in a research note published on April 30, 2024; the price target was $16. A number of analysts have revised their coverage, including Craig Hallum’s analysts, who began to cover the stock in late April with a ‘”a Buy”‘ rating. The Benchmark Company also remained covering RRGB and has increased its forecast on March 01, 2023 with a “Buy” recommendation from previously “Hold” rating. Jefferies revised its rating on December 21, 2022. It rated RRGB as “a Hold” which previously was an “a Buy”.
Price Performance Review of RRGB
On Friday, Red Robin Gourmet Burgers Inc [NASDAQ:RRGB] saw its stock jump 1.43% to $5.68. Over the last five days, the stock has lost -1.47%. Red Robin Gourmet Burgers Inc shares have fallen nearly -54.45% since the year began. Nevertheless, the stocks have fallen -59.05% over the past one year. While a 52-week high of $14.24 was reached on 01/02/24, a 52-week low of $5.37 was recorded on 08/02/24. SMA at 50 days reached $6.94, while 200 days put it at $8.35. A total of 0.57 million shares were traded, compared to the trading of 0.65 million shares in the previous session.
Levels Of Support And Resistance For RRGB Stock
The 24-hour chart illustrates a support level at 5.41, which if violated will result in even more drops to 5.15. On the upside, there is a resistance level at 5.82. A further resistance level may holdings at 5.97. The Relative Strength Index (RSI) on the 14-day chart is 35.80, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.24, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 65.49%. Stochastics%K at 24.01% indicates the stock is a holding.
