Shake Shack (NYSE:SHAK) Stock Price Up 7.8% – Here’s What Happened

Shares of Shake Shack Inc. (NYSE:SHAK) shot up 7.8% during mid-day trading on Tuesday . The company traded as high as $115.50 and last traded at $116.82. 569,715 shares were traded during trading, a decline of 53% from the average session volume of 1,204,432 shares. The stock had previously closed at $108.40.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Gordon Haskett raised Shake Shack from a “hold” rating to a “buy” rating and set a $154.00 price objective on the stock in a report on Wednesday, January 8th. Barclays raised shares of Shake Shack from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $125.00 to $159.00 in a research note on Tuesday, January 7th. Oppenheimer upped their price objective on shares of Shake Shack from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Wedbush reissued a “neutral” rating and set a $130.00 target price on shares of Shake Shack in a report on Wednesday, January 15th. Finally, Stifel Nicolaus lowered their price target on Shake Shack from $128.00 to $110.00 and set a “hold” rating on the stock in a research note on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Shake Shack currently has an average rating of “Hold” and an average price target of $124.29.

Shake Shack Stock Up 6.8 %

The company has a debt-to-equity ratio of 0.51, a current ratio of 2.01 and a quick ratio of 1.98. The company has a market capitalization of $4.92 billion, a PE ratio of 681.18 and a beta of 1.86. The business’s 50 day simple moving average is $123.34 and its 200 day simple moving average is $116.01.

Insider Transactions at Shake Shack

In related news, CFO Katherine Irene Fogertey sold 642 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $137.51, for a total transaction of $88,281.42. Following the completion of the sale, the chief financial officer now directly owns 30,717 shares of the company’s stock, valued at approximately $4,223,894.67. This trade represents a 2.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 9.73% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Nemes Rush Group LLC purchased a new stake in shares of Shake Shack in the 4th quarter valued at approximately $29,000. Harvest Fund Management Co. Ltd purchased a new stake in Shake Shack in the fourth quarter valued at approximately $32,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Shake Shack during the third quarter worth $41,000. Transcendent Capital Group LLC purchased a new position in shares of Shake Shack during the fourth quarter worth $52,000. Finally, R Squared Ltd acquired a new stake in shares of Shake Shack in the fourth quarter valued at $56,000. Institutional investors and hedge funds own 86.07% of the company’s stock.

Shake Shack Company Profile

Shake Shack Inc owns, operates, and licenses Shake Shack restaurants (Shacks) in the United States and internationally. Its Shacks offers hamburgers, chicken, hot dogs, crinkle cut fries, shakes, frozen custard, beer, wine, and other products. The company was founded in 2001 and is headquartered in New York, New York.