Shake Shack Inc. (NYSE:SHAK) shares are trending on Thursday night.
Shares of the New York-based fast casual restaurant chain edged up just 0.063% to $86.86 in after-hours trading on Thursday. The late-session surge followed a 6.23% decline during regular trading.
SHAK closed regular session at $86.81, according to Benzinga Pro data.
Energy Fear
Shake Shack shares fell in the afternoon session after crude oil prices surged due to geopolitical conflict, sparking concerns over rising operational costs and a potential decline in consumer spending.
Rising crude oil prices have sparked concern in the food service industry, which depends on commercial LPG for day-to-day operations.
Peers reflected the broad sector pressure on Thursday — Brinker International Inc. (NYSE:EAT) fell 3.93%, Bloomin’ Brands Inc. (NASDAQ:BLMN) dropped 4.48% and Papa John’s International Inc. (NASDAQ:PZZA) declined 7.05%.
Insider Move
On the company front, a Securities and Exchange Commission filing Tuesday showed that Chief Operating Officer Stephanie Sentell sold 225 shares at $93.60 on March 6 under a pre-arranged Rule 10b5-1 plan, while retaining 15,342 shares, adding to pressure on the stock.
Board Exit
In a separate filing on Monday, Shake Shack confirmed that director Joshua Silverman will resign effective May 1, reducing the board from nine to eight members. The company said the departure was not the result of any dispute or disagreement with the company or its board.
Trading Metrics, Technical Analysis
Shake Shack has a market capitalization of $3.71 billion, with a 52-week high of $144.65 and a 52-week low of $72.93.
The mid-cap stock has a Relative Strength Index (RSI) of 39.60.
SHAK has gained 4.88% over the past 12 months.
Currently, the stock is trading near the bottom of its 52-week range, about 19% above its annual low.
Benzinga’s Edge Stock Rankings highlight SHAK has a Growth score of 86.42.
Photo by Ned Snowman via Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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