Sweetgreen (NYSE:SG) Sets New 1-Year Low – Here’s What Happened

Shares of Sweetgreen, Inc. (NYSE:SG) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $5.10 and last traded at $5.1650, with a volume of 1784449 shares. The stock had previously closed at $5.29.

Analyst Ratings Changes

Several research firms recently weighed in on SG. Morgan Stanley reduced their target price on Sweetgreen from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 20th. Piper Sandler decreased their target price on shares of Sweetgreen from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. JPMorgan Chase & Co. boosted their target price on shares of Sweetgreen from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. Zacks Research raised shares of Sweetgreen from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, Wells Fargo & Company cut shares of Sweetgreen from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $10.00 to $7.00 in a research note on Wednesday, December 17th. Three 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 MarketBeat.com, Sweetgreen presently has an average rating of “Hold” and an average target price of $10.83.

Sweetgreen Stock Down 3.0%

The stock has a 50 day simple moving average of $6.86 and a 200 day simple moving average of $7.77. The company has a market cap of $607.24 million, a price-to-earnings ratio of -5.29 and a beta of 1.92.

Institutional Trading of Sweetgreen

Several large investors have recently bought and sold shares of SG. Aristides Capital LLC purchased a new stake in shares of Sweetgreen during the fourth quarter valued at approximately $185,000. Commonwealth Equity Services LLC acquired a new stake in Sweetgreen during the 4th quarter valued at $142,000. Counterpoint Mutual Funds LLC purchased a new stake in Sweetgreen during the 4th quarter worth $503,000. Federated Hermes Inc. increased its stake in Sweetgreen by 366.8% during the 4th quarter. Federated Hermes Inc. now owns 2,647,899 shares of the company’s stock worth $17,900,000 after buying an additional 2,080,628 shares during the period. Finally, Swiss National Bank lifted its holdings in Sweetgreen by 2.3% in the 4th quarter. Swiss National Bank now owns 209,700 shares of the company’s stock worth $1,418,000 after buying an additional 4,700 shares in 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.