Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Shake Shack Inc shares valued at $1,100,835 were sold by Meyer Daniel Harris on Oct 04 ’24. At $110.08 per share, Meyer Daniel Harris sold 10,000 shares. The insider’s holdings dropped to 460,337 shares worth approximately $49.73 million following the completion of this transaction.
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Also, Fogertey Katherine Irene sold 321 shares, netting a total of over 33,464 in proceeds. Following the sale of shares at $104.25 each, the insider now holds 35,859 shares.
Before that, Fogertey Katherine Irene had sold 321 shares from its account. In a trade valued at $33,360, the Chief Financial Officer traded Shake Shack Inc shares for $103.93 each. Upon closing the transaction, the insider’s holdings decreased to 321 shares, worth approximately $3.91 million.
As published in a research note from Piper Sandler on August 19, 2024, Shake Shack Inc [SHAK] has been rated down from an Overweight to a Neutral and the price target has been revised to $114 from $121. Analysts at CapitalOne started covering the stock with ‘”an Overweight”‘ outlook in a report released in late July. As of June 13, 2024, Goldman has initiated its “Buy” rating for SHAK. Earlier on March 22, 2024, Oppenheimer resumed its rating. Their recommendation was “an Outperform” for SHAK stock.
Analyzing SHAK Stock Performance
During the last five days, there has been a surge of approximately 2.98%. Over the course of the year, Shake Shack Inc shares have jumped approximately 45.75%. Shares of the company reached a 52-week high of $111.29 on 05/06/24 and a 52-week low of $64.16 on 01/17/24. A 50-day SMA is recorded $102.78, while a 200-day SMA reached $93.87. Nevertheless, trading volume fell to 0.98 million shares from 0.67 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 106.37, which, if violated, would cause prices to drop to 104.72. In the upper region, resistance lies at 109.84. The next price resistance is at 111.66. RSI (Relative Strength Index) is 58.48 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.29, which suggests the price will increase in the coming days. Percent R is at 28.38%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
