Sweetgreen (NYSE:SG) Hits New 52-Week Low – Should You Sell?

Sweetgreen, Inc. (NYSE:SG)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $18.62 and last traded at $19.86, with a volume of 1810872 shares traded. The stock had previously closed at $22.51.

Analysts Set New Price Targets

A number of research firms recently commented on SG. The Goldman Sachs Group reduced their target price on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. TD Securities reduced their price objective on Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. UBS Group dropped their target price on Sweetgreen from $45.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 price target on shares of Sweetgreen in a research report on Tuesday, February 25th. Finally, Oppenheimer lowered their price objective on shares of Sweetgreen from $41.00 to $35.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Sweetgreen has an average rating of “Moderate Buy” and a consensus target price of $36.27.

Sweetgreen Stock Performance

The company’s 50-day simple moving average is $25.95 and its two-hundred day simple moving average is $32.57. The firm has a market cap of $2.45 billion, a PE ratio of -26.76 and a beta of 2.28.

Insider Activity at Sweetgreen

In other news, COO Rossann Williams sold 4,977 shares of Sweetgreen stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $118,452.60. Following the sale, the chief operating officer now owns 95,516 shares of the company’s stock, valued at approximately $2,273,280.80. The trade was a 4.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mitch Reback sold 8,000 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $33.13, for a total transaction of $265,040.00. Following the completion of the transaction, the chief financial officer now directly owns 350,981 shares of the company’s stock, valued at approximately $11,628,000.53. The trade was a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,852 shares of company stock worth $1,052,177 in the last 90 days. Company insiders own 21.52% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SG. Steward Partners Investment Advisory LLC lifted its stake 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 valued at $33,000 after purchasing an additional 1,000 shares during the period. Headlands Technologies LLC raised its holdings in Sweetgreen by 156.0% in the fourth quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock worth $39,000 after purchasing an additional 741 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Sweetgreen by 45.7% during the fourth 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 bought a new stake in shares of Sweetgreen during the 4th quarter valued at $53,000. Finally, Denver PWM LLC purchased a new stake in shares of Sweetgreen in the 4th quarter worth about $60,000. Hedge funds and other institutional investors 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.