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. Red Robin Gourmet Burgers Inc shares valued at $31,526 were purchased by Hart Gerard Johan on Sep 10 ’24. At $3.15 per share, Hart Gerard Johan acquired 10,000 shares. The insider’s holdings grew to 616,782 shares worth approximately $3.39 million following the completion of this transaction.
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Also, Wilson Joshua Todd purchased 5,000 shares, netting a total of over 18,000 in proceeds. Following the buying of shares at $3.60 each, the insider now holds 118,732 shares.
Before that, Archon Capital Management LLC had sold 141,905 shares from its account. In a trade valued at $1,005,794, the 10% Owner traded Red Robin Gourmet Burgers Inc shares for $7.09 each. Upon closing the transaction, the insider’s holdings decreased to 141,905 shares, worth approximately $9.08 million.
As published in a research note from Lake Street on August 23, 2024, Red Robin Gourmet Burgers Inc [RRGB] has been retained to a Buy and the price target has been revised to $16. Analysts at Lake Street started covering the stock with ‘”a Buy”‘ outlook in a report released in late April. As of April 25, 2024, Craig Hallum has initiated its “Buy” rating for RRGB. Earlier on March 01, 2023, The Benchmark Company upgraded its rating. Their new recommendation was “a Buy” for RRGB stock which previously was a “a Hold”.
Analyzing RRGB Stock Performance
During the last five days, there has been a surge of approximately 20.88%. Over the course of the year, Red Robin Gourmet Burgers Inc shares have dropped approximately -55.89%. Shares of the company reached a 52-week high of $12.29 on 01/02/24 and a 52-week low of $2.97 on 09/09/24. A 50-day SMA is recorded $4.34, while a 200-day SMA reached $7.10. Nevertheless, trading volume fell to 2.26 million shares from 0.34 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 4.95, which, if violated, would cause prices to drop to 4.41. In the upper region, resistance lies at 5.94. The next price resistance is at 6.37. RSI (Relative Strength Index) is 72.83 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.37, which suggests the price will decrease in the coming days. Percent R is at 17.46%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
