Sweetgreen (NYSE:SG) Hits New 12-Month Low – Should You Sell?

Sweetgreen, Inc. (NYSE:SG) 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 trading hands. The stock had previously closed at $5.22.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Oppenheimer reduced their price target on Sweetgreen from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Royal Bank Of Canada cut their price target on shares of Sweetgreen from $8.00 to $7.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Sweetgreen in a research note on Monday, December 29th. Morgan Stanley dropped their price objective on Sweetgreen from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Tuesday, January 20th. Finally, The Goldman Sachs Group upped their target price on Sweetgreen from $5.00 to $5.60 and gave the company a “sell” rating in a report on Wednesday, January 28th. Three equities research 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. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $8.22.

Sweetgreen Stock Up 0.3%

The firm has a market cap of $619.67 million, a P/E ratio of -4.58 and a beta of 1.93. The business has a fifty day simple moving average of $5.99 and a 200-day simple moving average of $6.78.

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

Insider Buying and Selling

In related news, insider Nicolas Jammet bought 4,428 shares of the stock in a transaction on Thursday, March 5th. The shares were acquired at an average price of $5.71 per share, for a total transaction of $25,283.88. Following the purchase, the insider owned 22,543 shares of the company’s stock, valued at approximately $128,720.53. The trade was a 24.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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. Marshall Wace LLP increased its position in shares of Sweetgreen by 1,428.8% during the 3rd quarter. Marshall Wace LLP now owns 3,923,973 shares of the company’s stock valued at $31,313,000 after purchasing an additional 3,667,306 shares during the last quarter. Woodson Capital Management LP grew its position in Sweetgreen by 152.6% during the fourth quarter. Woodson Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $40,560,000 after buying an additional 3,625,000 shares during the period. Greenhouse Funds LLLP purchased a new stake in Sweetgreen during the second quarter valued at approximately $32,122,000. Federated Hermes Inc. raised its position in Sweetgreen by 366.8% in the fourth quarter. Federated Hermes Inc. now owns 2,647,899 shares of the company’s stock worth $17,900,000 after acquiring an additional 2,080,628 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of Sweetgreen by 240.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,692,838 shares of the company’s stock valued at $13,509,000 after acquiring an additional 1,196,222 shares during the period. Hedge funds and other institutional investors own 95.75% of the company’s stock.

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.