NEW YORK (The Street) -- Those hating on Shake Shack's (SHAK) stock might want to grab one of the chain's hormone-free burgers and signature shakes and call it a day.

The short ratio in Shake Shack, or the proportion of those betting the stock will fall compared with the company's overall shares in the market, is now a supersized 42.9%, reflecting the burger chain's massive trailing price-to-earnings ratio of over 1,000.

Judging by Shake Shack's first quarter earnings report, however, those shorting the stock may want to reconsider their position.  

Shake Shack reported a same-store sales increase of 11.7% in the first quarter ended April 1, better than the fourth quarter gain of 7.2%, despite inclement weather that hurt results at other sit-down restaurants such as Buffalo Wild Wings (BWLD) and Brinker International (EAT). 

"The Shack", as it's affectionately known as by its fans, even managed to post sales growth that beat that of red-hot burrito and salad bowl chain Chipotle  (CMG), which gained 10.7%. Shake Shack's earnings were 4 cents a share on an adjusted basis, beating the mean loss estimate of 3 cents a share.

Shares of Shake Shack surged 6% in early trading on Thursday, as the results likely caused some shorts to vacate their positions. But shorts continuing to cling to hopes for slowing growth at Shake Shack and a nosedive in its stock may be in for a rude awakening. Here are three reasons why.

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