Sweetgreen (NYSE:SG) Stock Price Up 8.2% – Should You Buy?

Sweetgreen, Inc. (NYSE:SG)’s stock price traded up 8.2% on Wednesday . The stock traded as high as $5.80 and last traded at $5.7150. 1,267,668 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 4,213,039 shares. The stock had previously closed at $5.28.

Analyst Ratings Changes

Several research analysts have commented on SG shares. Sanford C. Bernstein set a $7.00 target price on Sweetgreen in a research note on Wednesday, January 7th. Wells Fargo & Company cut shares of Sweetgreen from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $10.00 to $7.00 in a research report on Wednesday, December 17th. Zacks Research raised shares of Sweetgreen from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Citigroup restated a “buy” rating on shares of Sweetgreen in a research report on Wednesday, November 12th. Finally, The Goldman Sachs Group upped their price target on shares of Sweetgreen from $5.00 to $5.60 and gave the stock a “sell” rating in a report on Wednesday, January 28th. Three equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Sweetgreen presently has a consensus rating of “Hold” and a consensus target price of $10.83.

Sweetgreen Trading Up 12.8%

The firm has a market capitalization of $704.89 million, a P/E ratio of -6.14 and a beta of 1.92. The company has a 50-day moving average of $6.73 and a 200-day moving average of $7.51.

Institutional Trading of Sweetgreen

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Sweetgreen by 1.4% during the third quarter. Vanguard Group Inc. now owns 9,593,744 shares of the company’s stock worth $76,558,000 after buying an additional 129,572 shares during the period. Woodson Capital Management LP grew its stake in shares of Sweetgreen by 152.6% in the 4th quarter. Woodson Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $40,560,000 after buying an additional 3,625,000 shares during the period. Spyglass Capital Management LLC increased its position in Sweetgreen by 4.0% in the 3rd quarter. Spyglass Capital Management LLC now owns 4,056,570 shares of the company’s stock valued at $32,371,000 after buying an additional 156,757 shares in the last quarter. Greenhouse Funds LLLP raised its stake in Sweetgreen by 82.8% during the 3rd quarter. Greenhouse Funds LLLP now owns 3,946,884 shares of the company’s stock worth $31,496,000 after buying an additional 1,788,175 shares during the period. Finally, Marshall Wace LLP grew its stake in Sweetgreen by 1,428.8% in the third quarter. Marshall Wace LLP now owns 3,923,973 shares of the company’s stock valued at $31,313,000 after acquiring an additional 3,667,306 shares during the period. 95.75% of the stock is currently 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.