The Cheesecake Factory Incorporated (CAKE) was one of the best performers amongst all companies listed in the services sector on the NYSE and NASDAQ exchanges during trading on September 21, climbing 3.61% to wrap the day at $51.15 after closing the day prior at $49.37. Throughout the trading session, shares of CAKE rose as high as $51.19 and dipped as low as $50.0. Today’s advance came with about 976,573 shares changing hands, compared to an average 30-day volume of 531,997 for The Cheesecake Factory Incorporated. The price is currently below the 30-day volume weighted average price of $50.65 for CAKE.
The share appreciation today gives the company a market capitalization of $2.37 billion based upon 48.08 million shares outstanding. It also means that CAKE has a price-to-book ratio of 3.98:1.
In the past 52 weeks, shares of CAKE have traded as low as $44.16 and as high as $55.58. Technical traders will take note that at $51.15, shares of CAKE are trading above their 200-day MA at $49.59 and below their 50-day MA at $51.17. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is CAKE?
Cheesecake Factory Inc operates casual dining restaurants. It also operates bakery production facilities which produce desserts for its restaurants, international licenses and third-party bakery customers. The company’s 37600 employees are led by CEO David Overton from the corporate headquarters at 26901 Malibu Hills Road in Calabasas Hills, CA.
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