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. Shake Shack Inc shares valued at $85,541 were sold by Fogertey Katherine Irene on Nov 06 ’24. At $133.24 per share, Fogertey Katherine Irene sold 642 shares. The insider’s holdings dropped to 31,359 shares worth approximately $3.74 million following the completion of this transaction.
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Also, Meyer Daniel Harris sold 27,209 shares, netting a total of over 3,578,716 in proceeds. Following the sale of shares at $131.53 each, the insider now holds 380,437 shares.
Before that, Fogertey Katherine Irene had sold 3,858 shares from its account. In a trade valued at $485,275, the Chief Financial Officer traded Shake Shack Inc shares for $125.78 each. Upon closing the transaction, the insider’s holdings decreased to 3,858 shares, worth approximately $3.82 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 drop of approximately -6.55%. Over the course of the year, Shake Shack Inc shares have jumped approximately 60.91%. Shares of the company reached a 52-week high of $134.90 on 11/07/24 and a 52-week low of $64.16 on 01/17/24. A 50-day SMA is recorded $112.92, while a 200-day SMA reached $100.77. Nevertheless, trading volume fell to 0.66 million shares from 0.95 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 118.04, which, if violated, would cause prices to drop to 116.82. In the upper region, resistance lies at 119.95. The next price resistance is at 120.64. RSI (Relative Strength Index) is 49.53 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -7.44, which suggests the price will decrease in the coming days. Percent R is at 79.54%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
