Sweetgreen (NYSE:SG) Sets New 12-Month Low - Here's Why

Key Points

• Sweetgreen shares hit a new 52-week low, trading at $8.00, down from a previous close of $8.02 with significant trading volume of 5,340,596 shares.
• Analysts have adjusted their price targets for Sweetgreen, with expectations ranging from $10.00 to $19.00, reflecting a generally cautious outlook with a consensus rating of "Hold."
• In its latest earnings report, Sweetgreen missed expectations, reporting a loss of ($0.20) per share and revenue of $185.58 million, falling short of analyst estimates.

Shares of Sweetgreen, Inc. (NYSE:SG - Get Free Report) hit a new 52-week low on Wednesday . The company traded as low as $7.84 and last traded at $8.00, with a volume of 5340596 shares trading hands. The stock had previously closed at $8.02.

Analyst Ratings Changes

SG has been the topic of a number of recent research reports. TD Cowen dropped their price objective on Sweetgreen from $15.00 to $10.00 and set a "hold" rating on the stock in a research report on Friday, August 8th. UBS Group dropped their price objective on Sweetgreen from $19.00 to $13.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Royal Bank Of Canada dropped their price objective on Sweetgreen from $25.00 to $13.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. William Blair reaffirmed an "outperform" rating on shares of Sweetgreen in a research report on Friday, September 5th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $19.00 price objective on shares of Sweetgreen in a research report on Tuesday, July 1st. Seven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $17.69.

Sweetgreen Price Performance

The firm has a market cap of $945.09 million, a price-to-earnings ratio of -9.52 and a beta of 2.01. The firm has a fifty day simple moving average of $9.95 and a two-hundred day simple moving average of $14.61.

Sweetgreen (NYSE:SG - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.08). The business had revenue of $185.58 million during the quarter, compared to analyst estimates of $193.47 million. Sweetgreen had a negative return on equity of 22.21% and a negative net margin of 14.29%.Sweetgreen's revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.13) EPS. Sweetgreen has set its FY 2025 guidance at EPS. Equities analysts anticipate that Sweetgreen, Inc. will post -0.74 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Mitch Reback sold 11,530 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.19, for a total value of $105,960.70. Following the completion of the transaction, the chief financial officer directly owned 322,891 shares in the company, valued at $2,967,368.29. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 19.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SG. Glass Jacobson Investment Advisors llc purchased a new position in shares of Sweetgreen in the second quarter worth about $30,000. Nisa Investment Advisors LLC raised its stake 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 purchasing an additional 1,055 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Sweetgreen by 312.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company's stock worth $42,000 after purchasing an additional 2,127 shares during the last quarter. Spire Wealth Management raised its stake in shares of Sweetgreen by 47.1% in the first quarter. Spire Wealth Management now owns 1,983 shares of the company's stock worth $50,000 after purchasing an additional 635 shares during the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in shares of Sweetgreen in the first quarter worth about $71,000. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

About Sweetgreen

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.

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