Sweetgreen (NYSE:SG) Sets New 52-Week Low - Here's Why

Sweetgreen, Inc. (NYSE:SG - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $12.25 and last traded at $12.59, with a volume of 275314 shares traded. The stock had previously closed at $12.64.

Wall Street Analyst Weigh In

SG has been the subject of several recent analyst reports. The Goldman Sachs Group dropped their price target on Sweetgreen from $23.00 to $15.00 and set a "neutral" rating for the company in a research note on Wednesday, June 4th. Morgan Stanley dropped their price objective on shares of Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating for the company in a research note on Friday, May 9th. Citigroup decreased their price objective on Sweetgreen from $43.00 to $39.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. UBS Group cut their target price on Sweetgreen from $35.00 to $30.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $45.00 price target on shares of Sweetgreen in a research report on Tuesday, February 25th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Sweetgreen currently has an average rating of "Moderate Buy" and an average price target of $28.31.

Sweetgreen Trading Down 0.0%

The company has a 50-day moving average of $15.87 and a 200-day moving average of $24.46. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -15.95 and a beta of 2.06.

Sweetgreen (NYSE:SG - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.21). The company had revenue of $166.30 million during the quarter, compared to the consensus estimate of $164.68 million. Sweetgreen had a negative net margin of 13.04% and a negative return on equity of 19.72%. The firm's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.23) earnings per share. On average, research analysts expect that Sweetgreen, Inc. will post -0.74 EPS for the current year.

Insiders Place Their Bets

In related news, Director Clifford Burrows purchased 19,200 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average price of $13.11 per share, with a total value of $251,712.00. Following the completion of the acquisition, the director now owns 19,200 shares in the company, valued at $251,712. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Mitch Reback sold 10,088 shares of Sweetgreen stock in a transaction on Friday, May 16th. The stock was sold at an average price of $15.23, for a total value of $153,640.24. Following the transaction, the chief financial officer now owns 334,421 shares in the company, valued at approximately $5,093,231.83. This represents a 2.93% decrease in their position. The disclosure for this sale can be found here. Insiders own 21.52% of the company's stock.

Hedge Funds Weigh In On Sweetgreen

A number of hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC lifted its holdings in shares of Sweetgreen by 3,571.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company's stock worth $33,000 after acquiring an additional 1,000 shares during the last quarter. Headlands Technologies LLC grew its stake in shares of Sweetgreen by 156.0% in the fourth quarter. Headlands Technologies LLC now owns 1,216 shares of the company's stock valued at $39,000 after buying an additional 741 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Sweetgreen by 45.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock valued at $50,000 after buying an additional 494 shares during the period. Millstone Evans Group LLC purchased a new stake in shares of Sweetgreen in the 4th quarter valued at $53,000. Finally, Denver PWM LLC acquired a new position in Sweetgreen during the 4th quarter worth about $60,000. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Sweetgreen Company Profile

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.