Sweetgreen Target of Unusually High Options Trading (NYSE:SG)

Sweetgreen, Inc. (NYSE:SG) was the recipient of unusually large options trading activity on Thursday. Investors acquired 40,925 call options on the stock. This is an increase of 468% compared to the average volume of 7,199 call options.

Sweetgreen Trading Down 0.5%

Shares of NYSE:SG opened at $5.38 on Friday. Sweetgreen has a 52 week low of $4.49 and a 52 week high of $24.47. The company’s 50 day moving average is $5.65 and its two-hundred day moving average is $6.64. The company has a market cap of $637.30 million, a PE ratio of -4.72 and a beta of 1.90.

Sweetgreen (NYSE:SG) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.42) earnings per share (EPS) 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 analysts’ expectations of $159.59 million. Sweetgreen had a negative return on equity of 32.26% and a negative net margin of 19.73%.Sweetgreen’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period last year, the firm posted ($0.25) earnings per share. As a group, equities research analysts expect that Sweetgreen will post -0.74 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sweetgreen in a research report on Friday, March 27th. Citizens Jmp initiated coverage on Sweetgreen in a report on Monday. They issued a “mkt underperform” rating and a $4.50 target price for the company. UBS Group lowered their target price on Sweetgreen from $7.50 to $6.50 and set a “neutral” rating for the company in a research note on Monday, February 23rd. BNP Paribas Exane upgraded Sweetgreen to a “strong sell” rating in a report on Monday. Finally, Oppenheimer decreased their price objective on Sweetgreen from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, February 27th. Three research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Sweetgreen has a consensus rating of “Hold” and an average price target of $7.84.

Insiders Place Their Bets

In other Sweetgreen news, insider Nicolas Jammet bought 4,428 shares of Sweetgreen stock in a transaction on Thursday, March 5th. The shares were bought at an average cost of $5.71 per share, for a total transaction of $25,283.88. Following the acquisition, the insider directly owned 22,543 shares in the company, valued at $128,720.53. This represents a 24.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 19.78% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Sweetgreen by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 9,593,744 shares of the company’s stock worth $76,558,000 after acquiring an additional 129,572 shares in the last quarter. Woodson Capital Management LP boosted its holdings in Sweetgreen by 152.6% in 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 boosted its holdings in Sweetgreen by 4.0% in 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 in the last quarter. Greenhouse Funds LLLP increased its stake in Sweetgreen by 82.8% in 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 increased its stake in Sweetgreen by 1,428.8% in the third quarter. Marshall Wace LLP now owns 3,923,973 shares of the company’s stock valued at $31,313,000 after purchasing an additional 3,667,306 shares during the last quarter. 95.75% of the stock is owned by institutional investors and hedge funds.

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.