NEW YORK (TheStreet) -- Shares of Shake Shack (SHAK) are higher by 0.2% to $65.76 in mid-morning trading Wednesday, ahead of the company's first quarter earnings release after the market closes today.
The burger joint is expected to post a loss of 3 cents per share on $33.91 million in revenue for the quarter, according to analysts surveyed by Thomson Reuters.
This report marks Shake Shack's second as a public company since its initial public offering in January.
Shake Shack has retained its valuation with a market capitalization of about $2.38 billion, with its stock price remains nearly triple its IPO price.
New York City-based Shake Shack is a roadside burger stand serving an American menu of burgers, hot dogs, crinkle-cut fries, shakes, frozen custard, beer and wine.
The company operates about 63 casual dining restaurants around the world.
Insight from TheStreet's Research Team:
Michael Khouw commented on Shake Shack in a recent post on ActionAlertsOPTIONS.com. During the most recent weekly roundup, this is what Khouw had to say about the stock:
What to Watch: While options are not listed on SHAK, it is still a name to watch as it was one of the hottest IPOs of 2015. The stock has taken off since the IPO and has not looked back. The recent selloff could be some profit-taking, as there was no news on SHAK, but a fundamental concern is the cost involved to sustain its business model, a common characteristic in restaurants stocks.
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