Sweetgreen (NYSE:SG) Trading Up 7.2% – Should You Buy?

Shares of Sweetgreen, Inc. (NYSE:SG) traded up 7.2% during trading on Monday . The stock traded as high as $5.78 and last traded at $5.7050. 1,880,598 shares were traded during trading, a decline of 57% from the average session volume of 4,370,969 shares. The stock had previously closed at $5.32.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SG. Wolfe Research started coverage on shares of Sweetgreen in a report on Monday, March 9th. They issued a “peer perform” rating for the company. The Goldman Sachs Group boosted their price objective on shares of Sweetgreen from $5.00 to $5.60 and gave the stock a “sell” rating in a report on Wednesday, January 28th. Wells Fargo & Company cut Sweetgreen from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $10.00 to $7.00 in a research report on Wednesday, December 17th. Morgan Stanley cut their target price on Sweetgreen from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 20th. Finally, DA Davidson initiated coverage on Sweetgreen in a research note on Friday, March 6th. They issued a “neutral” rating and a $5.50 price target for the company. Three analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.22.

Sweetgreen Price Performance

The business has a 50-day moving average of $6.22 and a 200 day moving average of $6.91. The company has a market cap of $650.80 million, a PE ratio of -4.82 and a beta of 1.93.

Sweetgreen (NYSE:SG) last announced its 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 firm had revenue of $155.19 million during the quarter, compared to analysts’ expectations of $159.59 million. During the same period in the previous year, the business posted ($0.25) earnings per share. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, equities analysts predict that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Sweetgreen news, insider Nicolas Jammet purchased 4,428 shares of the firm’s stock in a transaction on Thursday, March 5th. The shares were acquired at an average cost of $5.71 per share, for a total transaction of $25,283.88. Following the completion of the transaction, 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 acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 19.78% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada lifted its position in Sweetgreen by 22.4% during the first quarter. Royal Bank of Canada now owns 291,477 shares of the company’s stock valued at $7,292,000 after purchasing an additional 53,427 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Sweetgreen by 6.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,572 shares of the company’s stock worth $1,516,000 after buying an additional 3,553 shares during the period. Geode Capital Management LLC lifted its position in shares of Sweetgreen by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,420,856 shares of the company’s stock valued at $36,027,000 after buying an additional 54,538 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its position in shares of Sweetgreen by 5.5% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 23,212 shares of the company’s stock valued at $345,000 after buying an additional 1,209 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Sweetgreen by 115.3% during the 2nd quarter. SG Americas Securities LLC now owns 17,463 shares of the company’s stock valued at $260,000 after acquiring an additional 9,352 shares during the period. 95.75% of the stock is owned by institutional investors.

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.