Chipotle Mexican Grill (CMG) : The total negative money flow of $2.28 million on Wednesday indicates selling on strength. The inflow of money on upticks was $27.35 million, compared to $29.63 million outflow on downticks, which confirms distribution in the stock. The up to down ratio was 0.92. The negative money flow of $0.1 million in block trades reveals that the informed traders sold the stock on every bit of price strength.The transaction value of block trade on downtick was $0.1 million. The price action in the Chipotle Mexican Grill (CMG) stock suggests that both the bulls and the bears were in equilibrium. The stock traded at $417.58 with a gain of $2.27 , a change of 0.55% over the previous days close. The stock registered 3.14% for the week.
Also, Morgan Stanley downgrades their rating on the shares of Chipotle Mexican Grill (NYSE:CMG). The current rating of the shares is Equal-weight. Earlier, the shares were rated a Overweight by the brokerage firm. Equity Analysts at the Firm lowers the price target to $405 per share from $500 per share. The rating by the firm was issued on July 15, 2016.
Chipotle Mexican Grill (NYSE:CMG): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $415.24 and $414.09 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $420.62. The buying momentum continued till the end and the stock did not give up its gains. It closed at $419.68, notching a gain of 1.05% for the day. The total traded volume was 846,918 . The stock had closed at $415.31 on the previous day.
The stock has recorded a 20-day Moving Average of 4.34% and the 50-Day Moving Average is 0.45%. In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director officer (Chairman & Co-CEO) of Chipotle Mexican Grill Inc, Ells Steve had sold 21,000 shares worth of $9,253,650 in a transaction dated May 31, 2016. In this transaction, 21,000 shares were sold at $440.65 per share.
Chipotle Mexican Grill, Inc. (Chipotle) develops and operates Chipotle Mexican Grill restaurants, which serve a focused menu of burritos, tacos, burrito bowls (a burrito without the tortilla) and salads. The Company operates 1,755 restaurants in the United States, seven in Canada, six in England, three in France, and one in Germany. The Companys restaurants also include nine ShopHouse Southeast Asian Kitchen restaurants. The Company owns and operates two Pizzeria Locale restaurants, a fast casual pizza concept. It also provides a variety of extras, such as guacamole, salsas and tortilla chips seasoned with fresh lime juice and kosher salt. Its restaurants also offer sodas, fruit drinks, organic milk, beer and margaritas. The average restaurant size is about 2,550 square feet and seats about 58 people. The Companys restaurants also feature outdoor patio space. The Companys restaurants accept orders by fax, online or through an iPhone or Android ordering application.