Sweetgreen (NYSE:SG) Trading Down 6.6% – Here’s Why

Sweetgreen, Inc. (NYSE:SG) was down 6.6% on Friday . The stock traded as low as $5.30 and last traded at $5.37. Approximately 670,798 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 4,376,337 shares. The stock had previously closed at $5.75.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SG shares. Barclays lifted their price objective on Sweetgreen from $5.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. Zacks Research raised Sweetgreen from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. The Goldman Sachs Group lifted their price target on shares of Sweetgreen from $5.00 to $5.60 and gave the company a “sell” rating in a report on Wednesday, January 28th. Sanford C. Bernstein set a $7.00 price objective on shares of Sweetgreen in a research report on Wednesday, January 7th. Finally, UBS Group decreased their price objective on shares of Sweetgreen from $7.50 to $6.50 and set a “neutral” rating for the company in a report on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Sweetgreen has a consensus rating of “Hold” and a consensus target price of $8.22.

Sweetgreen Stock Performance

The stock has a market cap of $667.61 million, a P/E ratio of -4.95 and a beta of 1.93. The firm has a 50-day moving average price of $6.39 and a 200-day moving average price of $7.09.

Sweetgreen (NYSE:SG) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.11). The firm had revenue of $155.19 million for the quarter, compared to the consensus estimate of $159.59 million. Sweetgreen had a negative net margin of 19.73% and a negative return on equity of 32.26%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.25) earnings per share. On average, research analysts predict that Sweetgreen, Inc. will post -0.74 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SG. Vanguard Group Inc. lifted its position in Sweetgreen by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 9,593,744 shares of the company’s stock valued at $76,558,000 after acquiring an additional 129,572 shares during the period. Woodson Capital Management LP increased its stake in shares of Sweetgreen by 152.6% during the fourth quarter. Woodson Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $40,560,000 after purchasing an additional 3,625,000 shares in the last quarter. Spyglass Capital Management LLC lifted its holdings in shares of Sweetgreen by 4.0% during the third quarter. Spyglass Capital Management LLC now owns 4,056,570 shares of the company’s stock valued at $32,371,000 after purchasing an additional 156,757 shares during the last quarter. Greenhouse Funds LLLP lifted its holdings in shares of Sweetgreen by 82.8% during the third quarter. Greenhouse Funds LLLP now owns 3,946,884 shares of the company’s stock valued at $31,496,000 after purchasing an additional 1,788,175 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Sweetgreen by 1,428.8% in the 3rd quarter. Marshall Wace LLP now owns 3,923,973 shares of the company’s stock worth $31,313,000 after purchasing an additional 3,667,306 shares in the last quarter. 95.75% of the stock is currently 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.