Sweetgreen (NYSE:SG) Shares Up 9.8% – Should You Buy?

Sweetgreen, Inc. (NYSE:SG)’s share price traded up 9.8% during mid-day trading on Friday . The company traded as high as $6.67 and last traded at $6.6450. 5,084,733 shares were traded during trading, a decline of 3% from the average session volume of 5,265,705 shares. The stock had previously closed at $6.05.

Analyst Ratings Changes

A number of brokerages recently issued reports on SG. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sweetgreen in a research note on Wednesday, October 8th. William Blair reaffirmed a “market perform” rating on shares of Sweetgreen in a research note on Friday, November 7th. Barclays dropped their target price on shares of Sweetgreen from $8.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Monday, November 10th. Sanford C. Bernstein set a $8.00 price objective on shares of Sweetgreen in a report on Wednesday, October 22nd. Finally, Bank of America reiterated a “neutral” rating and set a $9.50 price objective (down previously from $18.00) on shares of Sweetgreen in a report on Monday, October 6th. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Sweetgreen has an average rating of “Hold” and an average price target of $11.82.

Sweetgreen Stock Performance

The company has a 50 day moving average price of $7.31 and a 200 day moving average price of $10.79. The firm has a market cap of $794.85 million, a price-to-earnings ratio of -6.93 and a beta of 1.94.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data on Friday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.13). Sweetgreen had a negative net margin of 16.55% and a negative return on equity of 25.67%. The company had revenue of $172.39 million during the quarter, compared to analyst estimates of $179.29 million. During the same quarter in the previous year, the business posted ($0.18) earnings per share. The firm’s revenue was down .6% on a year-over-year basis. On average, research analysts forecast that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Insider Transactions at Sweetgreen

In related news, insider Nicolas Jammet bought 18,115 shares of the stock in a transaction on Wednesday, November 12th. The shares were bought at an average cost of $5.51 per share, for a total transaction of $99,813.65. Following the purchase, the insider owned 18,115 shares of the company’s stock, valued at $99,813.65. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jonathan Neman bought 179,800 shares of the stock in a transaction dated Wednesday, November 12th. The stock was purchased at an average cost of $5.56 per share, for a total transaction of $999,688.00. Following the acquisition, the chief executive officer owned 179,800 shares of the company’s stock, valued at approximately $999,688. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 19.78% of the company’s stock.

Institutional Trading of Sweetgreen

A number of hedge funds have recently bought and sold shares of SG. Glass Jacobson Investment Advisors llc acquired a new position in shares of Sweetgreen during the 2nd quarter valued at about $30,000. Larson Financial Group LLC grew its holdings in Sweetgreen by 165.8% in the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after purchasing an additional 2,349 shares during the period. Nisa Investment Advisors LLC increased its position in Sweetgreen by 98.2% during the second quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company’s stock worth $32,000 after purchasing an additional 1,055 shares during the last quarter. Bogart Wealth LLC increased its position in Sweetgreen by 1,150.0% during the third quarter. Bogart Wealth LLC now owns 5,000 shares of the company’s stock worth $40,000 after purchasing an additional 4,600 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in Sweetgreen by 312.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company’s stock worth $42,000 after purchasing an additional 2,127 shares during the period. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Company Profile

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.