Sweetgreen (NYSE:SG) Shares Up 8.8% – What’s Next?

Sweetgreen, Inc. (NYSE:SG)’s stock price traded up 8.8% on Wednesday . The company traded as high as $5.86 and last traded at $5.8650. 1,519,466 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 5,079,291 shares. The stock had previously closed at $5.39.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Weiss Ratings upgraded shares of Sweetgreen from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 22nd. DA Davidson decreased their price target on Sweetgreen from $7.00 to $5.50 and set a “neutral” rating for the company in a research note on Monday. TD Cowen lowered their price target on Sweetgreen from $8.00 to $5.00 and set a “hold” rating on the stock in a research report on Friday, August 7th. BNP Paribas Exane boosted their price objective on Sweetgreen from $4.50 to $5.00 and gave the stock an “underperform” rating in a research note on Friday, May 8th. Finally, UBS Group upgraded Sweetgreen from a “neutral” rating to a “buy” rating in a report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Sweetgreen has an average rating of “Hold” and a consensus price target of $7.10.

Sweetgreen Trading Up 7.1%

The business’s fifty day moving average is $7.52 and its 200 day moving average is $6.82. The firm has a market capitalization of $685.65 million, a P/E ratio of 57.71 and a beta of 2.19.

Sweetgreen (NYSE:SG) last issued its earnings results on Thursday, August 6th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.09). The business had revenue of $192.66 million for the quarter, compared to the consensus estimate of $194.50 million. Sweetgreen had a negative return on equity of 34.03% and a net margin of 2.01%.The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.20) earnings per share. As a group, sell-side analysts predict that Sweetgreen, Inc. will post -0.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sweetgreen

Large investors have recently modified their holdings of the stock. Larson Financial Group LLC raised its stake in Sweetgreen by 165.8% during the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock worth $30,000 after acquiring an additional 2,349 shares in the last quarter. Certuity LLC boosted its stake in shares of Sweetgreen by 0.8% in the 4th quarter. Certuity LLC now owns 302,500 shares of the company’s stock valued at $2,045,000 after purchasing an additional 2,500 shares in the last quarter. Kingswood Wealth Advisors LLC grew its holdings in shares of Sweetgreen by 18.7% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 17,202 shares of the company’s stock worth $116,000 after purchasing an additional 2,715 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Sweetgreen by 26.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 14,362 shares of the company’s stock worth $214,000 after purchasing an additional 2,987 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Sweetgreen by 6.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,572 shares of the company’s stock worth $1,516,000 after purchasing an additional 3,553 shares in the last quarter. 95.75% of the stock is owned by institutional investors.

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.