Sweetgreen (NYSE:SG) Shares Up 4.5% – Should You Buy?

Sweetgreen, Inc. (NYSE:SG)’s share price shot up 4.5% during trading on Wednesday . The stock traded as high as $6.67 and last traded at $6.8250. 1,179,108 shares were traded during trading, a decline of 77% from the average session volume of 5,144,478 shares. The stock had previously closed at $6.53.

Analyst Ratings Changes

SG has been the subject of a number of research analyst reports. The Goldman Sachs Group cut Sweetgreen from a “buy” rating to a “sell” rating and set a $5.00 target price for the company. in a research note on Friday, November 7th. Royal Bank Of Canada reiterated an “outperform” rating and set a $8.00 price objective on shares of Sweetgreen in a report on Tuesday, December 9th. Morgan Stanley set a $10.00 target price on Sweetgreen in a research note on Tuesday, October 21st. Zacks Research raised shares of Sweetgreen from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, Sanford C. Bernstein set a $8.00 price target on shares of Sweetgreen in a report on Wednesday, October 22nd. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Sweetgreen currently has an average rating of “Hold” and an average target price of $11.68.

Sweetgreen Stock Up 4.8%

The stock has a market capitalization of $810.24 million, a P/E ratio of -7.06 and a beta of 1.93. The stock has a 50 day simple moving average of $6.61 and a two-hundred day simple moving average of $9.22.

Sweetgreen (NYSE:SG) last posted its quarterly earnings results 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 return on equity of 25.67% and a negative net margin of 16.55%.The firm had revenue of $172.39 million for the quarter, compared to the consensus estimate of $179.29 million. During the same period last year, the company posted ($0.18) earnings per share. The business’s revenue was down .6% compared to the same quarter last year. Sell-side analysts predict that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sweetgreen news, CEO Jonathan Neman purchased 179,800 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was acquired at an average price of $5.56 per share, with a total value of $999,688.00. Following the acquisition, the chief executive officer directly owned 179,800 shares of the company’s stock, valued at $999,688. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nicolas Jammet bought 18,115 shares of Sweetgreen stock in a transaction that occurred on Wednesday, November 12th. The shares were bought at an average cost of $5.51 per share, with a total value of $99,813.65. Following the acquisition, the insider directly owned 18,115 shares in the company, valued at $99,813.65. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 19.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in shares of Sweetgreen by 22.4% in the first quarter. Royal Bank of Canada now owns 291,477 shares of the company’s stock valued at $7,292,000 after acquiring an additional 53,427 shares during the period. Amundi increased its holdings in shares of Sweetgreen by 4.2% during the first quarter. Amundi now owns 294,702 shares of the company’s stock worth $7,373,000 after purchasing an additional 11,992 shares during the period. EFG Asset Management North America Corp. boosted its stake in shares of Sweetgreen by 59.8% in the first quarter. EFG Asset Management North America Corp. now owns 117,327 shares of the company’s stock valued at $2,937,000 after buying an additional 43,922 shares during the period. Granahan Investment Management LLC grew its position in Sweetgreen by 4.0% during the first quarter. Granahan Investment Management LLC now owns 1,063,717 shares of the company’s stock worth $26,614,000 after buying an additional 41,320 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Sweetgreen by 6.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,572 shares of the company’s stock worth $1,516,000 after acquiring an additional 3,553 shares during the period. 95.75% of the stock is owned by institutional investors and hedge funds.

Sweetgreen Company Profile

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.