Sweetgreen (NYSE:SG) Reaches New 52-Week Low – Time to Sell?

Sweetgreen, Inc. (NYSE:SG)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $4.99 and last traded at $5.0750, with a volume of 1175296 shares changing hands. The stock had previously closed at $5.22.

Analyst Ratings Changes

SG has been the topic of a number of recent analyst reports. Wolfe Research started coverage on shares of Sweetgreen in a research note on Monday, March 9th. They set a “peer perform” rating on the stock. Sanford C. Bernstein set a $7.00 price target on Sweetgreen in a research note on Wednesday, January 7th. UBS Group reduced their price objective on shares of Sweetgreen from $7.50 to $6.50 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Wells Fargo & Company downgraded Sweetgreen from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $10.00 to $7.00 in a research report on Wednesday, December 17th. Finally, JPMorgan Chase & Co. raised their price target on Sweetgreen from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. Three investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $8.22.

Sweetgreen Price Performance

The stock has a 50 day moving average price of $5.99 and a two-hundred day moving average price of $6.78. The firm has a market capitalization of $619.67 million, a price-to-earnings ratio of -4.58 and a beta of 1.93.

Sweetgreen (NYSE:SG) last released its earnings results on Thursday, February 26th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.11). The firm had revenue of $155.19 million during the quarter, compared to analyst estimates of $159.59 million. Sweetgreen had a negative net margin of 19.73% and a negative return on equity of 32.26%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.25) earnings per share. As a group, research analysts expect that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Transactions at Sweetgreen

In other Sweetgreen news, insider Nicolas Jammet bought 4,428 shares of Sweetgreen stock in a transaction on Thursday, March 5th. The shares were bought at an average cost of $5.71 per share, for a total transaction of $25,283.88. Following the acquisition, the insider directly owned 22,543 shares in the company, valued at $128,720.53. This represents a 24.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 19.78% of the stock is currently owned by company insiders.

Institutional Trading of Sweetgreen

Several hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC grew its stake in Sweetgreen by 165.8% during the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock worth $30,000 after purchasing an additional 2,349 shares in the last quarter. Bogart Wealth LLC boosted its stake in shares of Sweetgreen by 1,150.0% in the 3rd quarter. Bogart Wealth LLC now owns 5,000 shares of the company’s stock valued at $40,000 after buying an additional 4,600 shares during the period. Skandinaviska Enskilda Banken AB publ grew its position in shares of 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 buying an additional 2,127 shares in the last quarter. CWM LLC increased its stake in shares of Sweetgreen by 212.2% during the fourth quarter. CWM LLC now owns 7,333 shares of the company’s stock worth $50,000 after buying an additional 4,984 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Sweetgreen by 281.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock valued at $53,000 after acquiring an additional 5,839 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors and hedge funds.

About Sweetgreen

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company’s menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.