Sweetgreen (NYSE:SG) Stock Price Down 6.8% – Here’s Why

Sweetgreen, Inc. (NYSE:SG)’s share price fell 6.8% on Tuesday . The stock traded as low as $7.40 and last traded at $7.4250. 1,114,190 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 4,207,774 shares. The stock had previously closed at $7.97.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Zacks Research raised Sweetgreen from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. The Goldman Sachs Group lowered Sweetgreen from a “buy” rating to a “sell” rating and set a $5.00 price target for the company. in a research report on Friday, November 7th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $8.00 price target on shares of Sweetgreen in a research note on Tuesday, December 9th. William Blair restated a “market perform” rating on shares of Sweetgreen in a research note on Friday, November 7th. Finally, Oppenheimer set a $10.00 target price on shares of Sweetgreen in a research note on Friday, November 7th. Three research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $10.79.

Sweetgreen Trading Down 12.2%

The company has a 50-day moving average of $6.84 and a 200-day moving average of $8.65. The company has a market capitalization of $828.03 million, a price-to-earnings ratio of -7.21 and a beta of 1.93.

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 company had revenue of $172.39 million for the quarter, compared to analyst estimates of $179.29 million. Sweetgreen had a negative net margin of 16.55% and a negative return on equity of 25.67%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.18) EPS. On average, research analysts expect that Sweetgreen, Inc. will post -0.74 EPS for the current year.

Insider Transactions at Sweetgreen

In related news, CEO Jonathan Neman bought 179,800 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were 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 directly owned 179,800 shares in the company, valued at approximately $999,688. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicolas Jammet purchased 18,115 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was bought at an average cost of $5.51 per share, with a total value of $99,813.65. Following the completion of the acquisition, the insider directly owned 18,115 shares of the company’s stock, valued at $99,813.65. This trade represents a ? increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 19.78% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Centurion Wealth Management LLC acquired a new stake in Sweetgreen in the 4th quarter valued at $75,000. Eastern Bank lifted its holdings in Sweetgreen by 228.5% during the fourth quarter. Eastern Bank now owns 8,780 shares of the company’s stock valued at $59,000 after purchasing an additional 6,107 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Sweetgreen by 42.5% in the fourth quarter. SG Americas Securities LLC now owns 152,766 shares of the company’s stock valued at $1,033,000 after purchasing an additional 45,569 shares during the period. Mirabella Financial Services LLP purchased a new stake in shares of Sweetgreen during the third quarter worth about $166,000. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of Sweetgreen during the third quarter worth about $88,000. 95.75% of the stock is owned by institutional investors and hedge funds.

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.