Sweetgreen (NYSE:SG) Stock Price Down 7.2% - Time to Sell?

Key Points

• Sweetgreen shares fell 7.2% to about $5.83 in thin trading, below both their 50-day moving average of $7.43 and 200-day moving average of $6.80.
• Analyst sentiment remains mixed: JPMorgan and UBS upgraded the stock, while RBC cut its price target to $6.50. The overall consensus is “Hold,” with a target price of $7.10.
• Sweetgreen missed quarterly expectations, reporting an adjusted loss of $0.22 per share versus the expected $0.13 loss and revenue of $192.66 million versus $194.50 million; analysts project a full-year loss of $0.98 per share.

Sweetgreen, Inc. (NYSE:SG - Get Free Report) traded down 7.2% during mid-day trading on Monday . The company traded as low as $5.88 and last traded at $5.8260. 417,902 shares were traded during trading, a decline of 92% from the average session volume of 5,092,927 shares. The stock had previously closed at $6.28.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SG shares. JPMorgan Chase & Co. upgraded shares of Sweetgreen from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $8.00 to $13.00 in a report on Friday, May 22nd. Wall Street Zen raised shares of Sweetgreen from a "strong sell" rating to a "sell" rating in a report on Sunday. KeyCorp restated a "sector weight" rating on shares of Sweetgreen in a research report on Monday, August 10th. Royal Bank Of Canada lowered their target price on Sweetgreen from $7.00 to $6.50 and set an "outperform" rating for the company in a research report on Friday, August 7th. Finally, UBS Group upgraded Sweetgreen from a "neutral" rating to a "buy" rating in a research report on Friday, August 7th. Four analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $7.10.

Sweetgreen Price Performance

The stock's 50-day moving average price is $7.43 and its 200 day moving average price is $6.80. The firm has a market capitalization of $686.27 million, a PE ratio of 57.66 and a beta of 2.20.

Sweetgreen (NYSE:SG - Get Free Report) 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 firm had revenue of $192.66 million for the quarter, compared to the consensus estimate of $194.50 million. Sweetgreen had a net margin of 2.01% and a negative return on equity of 32.94%. The company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the firm earned ($0.20) earnings per share. Equities research analysts forecast that Sweetgreen, Inc. will post -0.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sweetgreen

A number of hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC boosted its holdings in Sweetgreen by 165.8% in the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company's stock worth $30,000 after buying an additional 2,349 shares during the last quarter. Certuity LLC raised 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 acquiring an additional 2,500 shares during the period. Kingswood Wealth Advisors LLC lifted its stake in Sweetgreen by 18.7% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 17,202 shares of the company's stock worth $116,000 after acquiring an additional 2,715 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Sweetgreen by 26.3% in the second quarter. Tower Research Capital LLC TRC now owns 14,362 shares of the company's stock worth $214,000 after acquiring an additional 2,987 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 during the period. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

About Sweetgreen

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.

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