Sweetgreen (NYSE:SG) Trading Down 4.1% – Time to Sell?

Sweetgreen, Inc. (NYSE:SG) dropped 4.1% during trading on Monday . The stock traded as low as $6.38 and last traded at $6.1830. Approximately 1,010,366 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 4,878,371 shares. The stock had previously closed at $6.45.

Analyst Upgrades and Downgrades

SG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised shares of Sweetgreen from a “neutral” rating to an “overweight” rating and increased their target price for the company from $8.00 to $13.00 in a report on Friday, May 22nd. Wall Street Zen raised Sweetgreen from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Citigroup upped their price target on Sweetgreen from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, July 20th. BNP Paribas Exane lifted their price objective on Sweetgreen from $4.50 to $5.00 and gave the stock an “underperform” rating in a report on Friday, May 8th. Finally, DA Davidson boosted their target price on Sweetgreen from $5.50 to $7.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.72.

Sweetgreen Trading Down 3.1%

The firm has a market capitalization of $681.49 million, a PE ratio of 47.80 and a beta of 2.19. The stock’s 50 day moving average price is $7.92 and its two-hundred day moving average price is $6.89.

Sweetgreen (NYSE:SG) last announced its earnings results on Friday, May 8th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). The company had revenue of $161.52 million for the quarter, compared to analyst estimates of $163.94 million. Sweetgreen had a net margin of 2.49% and a negative return on equity of 33.07%. Sweetgreen’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.21) EPS. Analysts expect that Sweetgreen, Inc. will post -0.51 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Woodson Capital Management LP boosted its stake in shares of Sweetgreen by 152.6% during the 4th quarter. Woodson Capital Management LP now owns 6,000,000 shares of the company’s stock worth $40,560,000 after purchasing an additional 3,625,000 shares during the last quarter. Marshall Wace LLP raised its position in shares of 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 buying an additional 3,667,306 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Sweetgreen by 366.8% during the fourth quarter. Federated Hermes Inc. now owns 2,647,899 shares of the company’s stock valued at $17,900,000 after buying an additional 2,080,628 shares during the period. Geode Capital Management LLC lifted its stake in shares of Sweetgreen by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 2,453,564 shares of the company’s stock valued at $16,589,000 after buying an additional 16,281 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Sweetgreen by 35.6% during the fourth quarter. BNP Paribas Financial Markets now owns 2,295,867 shares of the company’s stock worth $15,520,000 after acquiring an additional 603,029 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

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.