Sweetgreen (NYSE:SG) Trading Up 6.5%

Sweetgreen, Inc. (NYSE:SG)’s share price was up 6.5% on Tuesday . The stock traded as high as $21.69 and last traded at $21.64. Approximately 241,845 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 2,161,066 shares. The stock had previously closed at $20.32.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SG shares. Citigroup lifted their price target on Sweetgreen from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, February 21st. TD Cowen restated a “hold” rating and issued a $17.00 price target on shares of Sweetgreen in a research note on Wednesday, April 10th. Oppenheimer lifted their price target on Sweetgreen from $17.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Morgan Stanley lifted their price target on Sweetgreen from $11.00 to $16.00 and gave the company an “underweight” rating in a research note on Friday, April 12th. Finally, Piper Sandler lifted their price target on Sweetgreen from $16.00 to $19.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Sweetgreen Trading Down 2.4 %

The company has a 50 day simple moving average of $19.96 and a 200 day simple moving average of $13.88.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.01). Sweetgreen had a negative return on equity of 21.58% and a negative net margin of 19.41%. The firm had revenue of $153.00 million for the quarter, compared to analysts’ expectations of $152.04 million. During the same quarter last year, the firm posted ($0.44) earnings per share. Sweetgreen’s quarterly revenue was up 29.0% on a year-over-year basis. As a group, equities analysts anticipate that Sweetgreen, Inc. will post -0.71 earnings per share for the current year.

Insider Activity

In other news, CFO Mitch Reback sold 10,288 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $12.00, for a total value of $123,456.00. Following the completion of the sale, the chief financial officer now directly owns 432,393 shares in the company, valued at $5,188,716. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jonathan Neman sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $11.55, for a total value of $57,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,100,000 shares in the company, valued at $24,255,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mitch Reback sold 10,288 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $12.00, for a total value of $123,456.00. Following the completion of the transaction, the chief financial officer now owns 432,393 shares in the company, valued at $5,188,716. The disclosure for this sale can be found here. Insiders sold 140,555 shares of company stock worth $2,214,389 over the last ninety days. Corporate insiders own 22.03% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bourgeon Capital Management LLC acquired a new stake in Sweetgreen during the third quarter worth $29,000. Compagnie Lombard Odier SCmA increased its stake in Sweetgreen by 300.0% during the third quarter. Compagnie Lombard Odier SCmA now owns 8,000 shares of the company’s stock worth $94,000 after acquiring an additional 6,000 shares during the last quarter. Quest Partners LLC acquired a new stake in Sweetgreen during the fourth quarter worth $104,000. Clear Harbor Asset Management LLC acquired a new stake in Sweetgreen during the fourth quarter worth $113,000. Finally, Triumph Capital Management acquired a new stake in Sweetgreen during the fourth quarter worth $126,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

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.