Sweetgreen (NYSE:SG) Shares Down 6.1% – Should You Sell?

Sweetgreen, Inc. (NYSE:SG)’s stock price traded down 6.1% during trading on Monday . The company traded as low as $5.74 and last traded at $5.7080. 791,060 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 4,184,569 shares. The stock had previously closed at $6.08.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Morgan Stanley lowered their target price on shares of Sweetgreen from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 20th. The Goldman Sachs Group upped their price objective on Sweetgreen from $5.00 to $5.60 and gave the stock a “sell” rating in a research report on Wednesday, January 28th. UBS Group lowered Sweetgreen from a “buy” rating to a “neutral” rating and set a $7.50 target price on the stock. in a research report on Tuesday, January 6th. Barclays boosted 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. Finally, Citigroup reiterated a “buy” rating on shares of Sweetgreen in a research note on Wednesday, November 12th. Three research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $10.83.

Sweetgreen Stock Performance

The business has a 50-day simple moving average of $6.93 and a two-hundred day simple moving average of $7.91. The company has a market capitalization of $668.79 million, a price-to-earnings ratio of -5.82 and a beta of 1.92.

Sweetgreen (NYSE:SG) last issued its quarterly earnings results on Friday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.13). The firm had revenue of $172.39 million for the quarter, compared to analyst estimates of $179.29 million. Sweetgreen had a negative return on equity of 25.67% and a negative net margin of 16.55%.The company’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.18) earnings per share. Research analysts predict that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jonathan Neman acquired 179,800 shares of Sweetgreen stock in a transaction that occurred on Wednesday, November 12th. The stock was purchased at an average cost of $5.56 per share, with a total value of $999,688.00. Following the completion of the acquisition, the chief executive officer owned 179,800 shares in the company, valued at $999,688. This trade represents a ? increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nicolas Jammet acquired 18,115 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was acquired at an average price of $5.51 per share, for a total transaction of $99,813.65. Following the completion of the transaction, the insider directly owned 18,115 shares in the company, valued at approximately $99,813.65. This represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 19.78% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas lifted its stake in shares of Sweetgreen by 5.8% during the second quarter. Teacher Retirement System of Texas now owns 15,981 shares of the company’s stock valued at $238,000 after buying an additional 877 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Sweetgreen by 98.2% in the second quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company’s stock worth $32,000 after acquiring an additional 1,055 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its stake in shares of Sweetgreen by 5.5% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 23,212 shares of the company’s stock valued at $345,000 after acquiring an additional 1,209 shares during the period. Northwest & Ethical Investments L.P. lifted its stake in shares of Sweetgreen by 4.9% during the second quarter. Northwest & Ethical Investments L.P. now owns 39,912 shares of the company’s stock worth $594,000 after purchasing an additional 1,870 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc purchased a new position in Sweetgreen in the 2nd quarter worth approximately $30,000. 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.