BNP Paribas Exane Upgrades Sweetgreen (NYSE:SG) to “Strong Sell”

Sweetgreen (NYSE:SG) was upgraded by equities researchers at BNP Paribas Exane to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

Several other equities research analysts have also recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Sweetgreen from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 20th. Citizens Jmp began coverage on shares of Sweetgreen in a report on Monday. They issued a “mkt underperform” rating and a $4.50 price objective on the stock. Royal Bank Of Canada reduced their price objective on shares of Sweetgreen from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sweetgreen in a report on Friday. Finally, Wolfe Research assumed coverage on shares of Sweetgreen in a research report on Monday, March 9th. They set a “peer perform” rating for the company. Three investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $7.84.

Sweetgreen Stock Up 7.9%

Shares of SG opened at $5.17 on Monday. Sweetgreen has a 12-month low of $4.49 and a 12-month high of $25.88. The firm has a market capitalization of $611.74 million, a PE ratio of -4.53 and a beta of 1.93. The stock’s fifty day simple moving average is $5.71 and its 200-day simple moving average is $6.66.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 32.26% and a negative net margin of 19.73%.Sweetgreen’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.25) earnings per share. Analysts anticipate that Sweetgreen will post -0.74 EPS for the current year.

Insider Activity at Sweetgreen

In related news, insider Nicolas Jammet purchased 4,428 shares of the stock in a transaction dated Thursday, March 5th. The stock was bought at an average cost of $5.71 per share, with a total value of $25,283.88. Following the purchase, the insider directly owned 22,543 shares in the company, valued at $128,720.53. The trade was a 24.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 19.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC increased its stake in Sweetgreen by 165.8% in the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after purchasing an additional 2,349 shares in the last quarter. Bogart Wealth LLC boosted its position in shares of Sweetgreen by 1,150.0% during the third quarter. Bogart Wealth LLC now owns 5,000 shares of the company’s stock worth $40,000 after purchasing an additional 4,600 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Sweetgreen by 312.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company’s stock valued at $42,000 after buying an additional 2,127 shares during the period. CWM LLC grew its holdings in shares of Sweetgreen by 212.2% in the 4th quarter. CWM LLC now owns 7,333 shares of the company’s stock valued at $50,000 after buying an additional 4,984 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Sweetgreen by 281.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock valued at $53,000 after buying an additional 5,839 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.