Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Shake Shack Inc shares valued at $3,653,559 were sold by Meyer Daniel Harris on Nov 01 ’24. At $121.79 per share, Meyer Daniel Harris sold 30,000 shares. The insider’s holdings dropped to 407,646 shares worth approximately $54.28 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, Meyer Daniel Harris sold 22,691 shares, netting a total of over 2,824,357 in proceeds. Following the sale of shares at $124.47 each, the insider now holds 437,646 shares.
Before that, Meyer Daniel Harris had sold 10,000 shares from its account. In a trade valued at $1,100,835, the Director traded Shake Shack Inc shares for $110.08 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $61.3 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 8.73%. Over the course of the year, Shake Shack Inc shares have jumped approximately 79.65%. Shares of the company reached a 52-week high of $134.77 on 11/06/24 and a 52-week low of $64.16 on 01/17/24. A 50-day SMA is recorded $107.55, while a 200-day SMA reached $98.28. Nevertheless, trading volume fell to 1.21 million shares from 1.08 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 130.50, which, if violated, would cause prices to drop to 127.83. In the upper region, resistance lies at 135.30. The next price resistance is at 137.43. RSI (Relative Strength Index) is 81.83 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 10.91, which suggests the price will increase in the coming days. Percent R is at 5.68%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
