Sweetgreen (NYSE:SG) Sets New 52-Week Low – Should You Sell?

Sweetgreen, Inc. (NYSE:SG)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $4.99 and last traded at $5.0750, with a volume of 1175296 shares traded. The stock had previously closed at $5.22.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. UBS Group decreased their price target on shares of Sweetgreen from $7.50 to $6.50 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Oppenheimer reduced their price target on Sweetgreen from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Wolfe Research initiated coverage on shares of Sweetgreen in a research report on Monday, March 9th. They set a “peer perform” rating for the company. Sanford C. Bernstein set a $7.00 price objective on shares of Sweetgreen in a research report on Wednesday, January 7th. Finally, Barclays raised their price target on Sweetgreen from $5.00 to $7.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $8.22.

Sweetgreen Trading Down 5.5%

The stock has a market cap of $587.00 million, a P/E ratio of -4.35 and a beta of 1.93. The company’s 50 day moving average price is $5.87 and its two-hundred day moving average price is $6.76.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data 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). Sweetgreen had a negative net margin of 19.73% and a negative return on equity of 32.26%. The company had revenue of $155.19 million for the quarter, compared to analysts’ expectations of $159.59 million. During the same period in the previous year, the firm earned ($0.25) earnings per share. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. On average, sell-side analysts anticipate that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Insider Buying and Selling at Sweetgreen

In other news, insider Nicolas Jammet purchased 4,428 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were bought at an average cost of $5.71 per share, for a total transaction of $25,283.88. Following the acquisition, the insider owned 22,543 shares of the company’s stock, valued at approximately $128,720.53. This trade represents a 24.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 19.78% of the company’s stock.

Institutional Trading of Sweetgreen

Several hedge funds and other institutional investors have recently bought and sold shares of SG. Larson Financial Group LLC increased its stake in Sweetgreen by 165.8% during the 3rd 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 increased its holdings in shares of Sweetgreen by 1,150.0% during the 3rd quarter. Bogart Wealth LLC now owns 5,000 shares of the company’s stock valued at $40,000 after purchasing an additional 4,600 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake 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 purchasing an additional 2,127 shares during the period. CWM LLC lifted its stake 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 purchasing an additional 4,984 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Sweetgreen by 281.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock worth $53,000 after buying an additional 5,839 shares in the last quarter. Institutional investors 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.