Sweetgreen (NYSE:SG) Stock Price Down 6.6% – Time to Sell?

Sweetgreen, Inc. (NYSE:SG)’s stock price was down 6.6% during mid-day trading on Friday . The company traded as low as $5.30 and last traded at $5.37. Approximately 670,798 shares changed hands during trading, a decline of 85% from the average daily volume of 4,376,337 shares. The stock had previously closed at $5.75.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SG shares. Barclays increased their target price on Sweetgreen from $5.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Sweetgreen in a research note on Monday, December 29th. William Blair reiterated a “market perform” rating on shares of Sweetgreen in a research note on Friday, November 7th. JPMorgan Chase & Co. increased their price target on shares of Sweetgreen from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. Finally, Sanford C. Bernstein set a $7.00 price objective on shares of Sweetgreen in a report on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Sweetgreen presently has an average rating of “Hold” and an average target price of $8.22.

Sweetgreen Stock Performance

The stock has a market capitalization of $660.50 million, a P/E ratio of -4.89 and a beta of 1.93. The firm has a fifty day moving average price of $6.42 and a two-hundred day moving average price of $7.13.

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

Institutional Trading of Sweetgreen

Large investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC raised its position in Sweetgreen by 165.8% in the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock worth $30,000 after acquiring an additional 2,349 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Sweetgreen by 98.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company’s stock worth $32,000 after purchasing an additional 1,055 shares in the last quarter. Bogart Wealth LLC raised its holdings in Sweetgreen by 1,150.0% in the 3rd quarter. Bogart Wealth LLC now owns 5,000 shares of the company’s stock worth $40,000 after purchasing an additional 4,600 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its position in Sweetgreen by 312.3% during 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. Finally, CWM LLC lifted its position in Sweetgreen by 212.2% during the fourth quarter. CWM LLC now owns 7,333 shares of the company’s stock valued at $50,000 after purchasing an additional 4,984 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors.

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.