Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cava Group Inc shares valued at $3,203,752 were purchased by Ron M Shaich on Aug 28 ’24. At $117.85 per share, Ron M Shaich acquired 27,185 shares.
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Also, Ron M Shaich purchased 28,088 shares, netting a total of over 3,310,171 in proceeds.
Before that, Ron M Shaich had added 54,780 shares to its account. In a trade valued at $6,455,823, the Officer bought Cava Group Inc shares for $117.85 each.
As published in a research note from Citigroup on August 23, 2024, Cava Group Inc [CAVA] has been retained to a Neutral and the price target has been revised to $115. Analysts at JP Morgan downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in early June. As of May 30, 2024, Piper Sandler has decreased its “an Overweight” rating to a “Neutral” for CAVA. Earlier on April 15, 2024, Barclays initiated its rating. Their recommendation was “an Equal weight” for CAVA stock.
Analyzing CAVA Stock Performance
During the last five days, there has been a surge of approximately 15.14%. Over the course of the year, Cava Group Inc shares have jumped approximately 175.57%. Shares of the company reached a 52-week high of $128.18 on 08/26/24 and a 52-week low of $39.05 on 01/03/24. A 50-day SMA is recorded $91.43, while a 200-day SMA reached $66.10. Nevertheless, trading volume fell to 4.21 million shares from 12.33 million shares the previous day.
Support And Resistance Levels for Cava Group Inc (CAVA)
According to the 24-hour chart, there is a support level at 116.61, which, if violated, would cause prices to drop to 114.79. In the upper region, resistance lies at 120.09. The next price resistance is at 121.75. RSI (Relative Strength Index) is 71.91 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 16.91, which suggests the price will increase in the coming days. Percent R is at 22.97%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
