Shake Shack (NYSE:SHAK) Share Price Crosses Below Fifty Day Moving Average – Should You Sell?

Shake Shack, Inc. (NYSE:SHAK) crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $70.46 and traded as low as $54.40. Shake Shack shares last traded at $56.7590, with a volume of 2,555,902 shares.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SHAK shares. Weiss Ratings downgraded shares of Shake Shack from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, June 8th. Oppenheimer set a $82.00 price objective on Shake Shack and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Piper Sandler set a $79.00 target price on Shake Shack in a report on Thursday, May 7th. Wolfe Research assumed coverage on Shake Shack in a research report on Monday, March 9th. They issued an “outperform” rating and a $118.00 target price for the company. Finally, Truist Financial lifted their price target on Shake Shack from $144.00 to $148.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Fifteen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.00.

Shake Shack Stock Up 2.8%

The firm’s fifty day moving average price is $70.46 and its two-hundred day moving average price is $83.48. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 57.92, a price-to-earnings-growth ratio of 2.45 and a beta of 1.63. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.69 and a quick ratio of 1.66.

Insider Buying and Selling at Shake Shack

In other news, Director Sumaiya Balbale bought 4,068 shares of Shake Shack stock in a transaction dated Friday, May 15th. The stock was purchased at an average price of $61.42 per share, for a total transaction of $249,856.56. Following the purchase, the director directly owned 13,407 shares in the company, valued at $823,457.94. The trade was a 43.56% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel Harris Meyer bought 32,258 shares of the company’s stock in a transaction on Friday, May 15th. The shares were purchased at an average cost of $61.88 per share, for a total transaction of $1,996,125.04. Following the transaction, the director owned 378,670 shares in the company, valued at approximately $23,432,099.60. This represents a 9.31% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 50,616 shares of company stock valued at $3,109,782 in the last three months. Insiders own 8.32% of the company’s stock.

Hedge Funds Weigh In On Shake Shack

Several hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in shares of Shake Shack by 9.3% in the 1st quarter. Bank of America Corp DE now owns 899,013 shares of the company’s stock valued at $79,536,000 after acquiring an additional 76,724 shares in the last quarter. Amundi increased its holdings in shares of Shake Shack by 19.8% in the 1st quarter. Amundi now owns 7,626 shares of the company’s stock worth $675,000 after buying an additional 1,261 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Shake Shack by 23.2% during the 1st quarter. California State Teachers Retirement System now owns 44,636 shares of the company’s stock valued at $3,949,000 after buying an additional 8,409 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Shake Shack by 655.6% during the 1st quarter. Quantinno Capital Management LP now owns 55,362 shares of the company’s stock worth $4,898,000 after acquiring an additional 48,035 shares during the last quarter. Finally, SummitTX Capital L.P. purchased a new position in Shake Shack in the first quarter worth $542,000. Hedge funds and other institutional investors own 86.07% of the company’s stock.

Shake Shack Company Profile

Shake Shack, Inc (NYSE: SHAK) is a publicly traded hospitality company known for its modern take on the classic American roadside burger stand. The company operates a chain of quick-casual restaurants offering premium hamburgers, hot dogs, crinkle-cut fries, frozen custard, milkshakes and a curated selection of beer and wine. Shake Shack emphasizes high-quality ingredients, including 100% all-natural Angus beef with no hormones or antibiotics, and works with local suppliers where possible to maintain its commitment to fresh, responsibly sourced food.

Shake Shack traces its origins to a hot dog cart opened in New York City’s Madison Square Park in 2001 by Danny Meyer’s Union Square Hospitality Group.