Sweetgreen (NYSE:SG) Shares Down 6.1% – What’s Next?

Sweetgreen, Inc. (NYSE:SG) was down 6.1% on Monday . The company traded as low as $5.74 and last traded at $5.7080. Approximately 791,060 shares changed hands during trading, a decline of 81% from the average daily volume of 4,184,569 shares. The stock had previously closed at $6.08.

Analyst Upgrades and Downgrades

Several research firms recently commented on SG. UBS Group lowered shares of Sweetgreen from a “buy” rating to a “neutral” rating and set a $7.50 price objective for the company. in a research note on Tuesday, January 6th. Morgan Stanley decreased 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. Piper Sandler dropped their target price on Sweetgreen from $12.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Zacks Research upgraded Sweetgreen from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, JPMorgan Chase & Co. raised their price target on Sweetgreen from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. Three investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $10.83.

Sweetgreen Stock Down 2.7%

The company’s 50-day moving average price is $6.89 and its 200-day moving average price is $7.78. The firm has a market cap of $623.22 million, a price-to-earnings ratio of -5.43 and a beta of 1.92.

Institutional Trading of Sweetgreen

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