Sweetgreen Inc. (NYSE:SG) closed Wednesday at $9.03 per share, up from $8.65 a day earlier. While Sweetgreen Inc. has overperformed by 4.39%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SG fell by -71.32%, with highs and lows ranging from $40.10 to $8.10, whereas the simple moving average fell by -50.74% in the last 200 days.
On June 27, 2022, BofA Securities started tracking Sweetgreen Inc. (NYSE: SG) recommending Neutral. A report published by Cowen on June 15, 2022, Reiterated its previous ‘Outperform’ rating for SG. Citigroup also rated SG shares as ‘Neutral’, setting a target price of $32 on the company’s shares in an initiating report dated April 12, 2022. Oppenheimer Reiterated the rating as Outperform on March 04, 2022, but set its price target from $41 to $37. William Blair initiated its ‘Outperform’ rating for SG, as published in its report on December 13, 2021. RBC Capital Mkts’s report from December 13, 2021 suggests a price prediction of $40 for SG shares, giving the stock a ‘Outperform’ rating. Oppenheimer also rated the stock as ‘Outperform’.
Analysis of Sweetgreen Inc. (SG)
Further, the quarter-over-quarter increase in sales is 29.40%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Sweetgreen Inc.’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -32.80% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 8.70, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and SG is recording an average volume of 1.53M. On a monthly basis, the volatility of the stock is set at 6.16%, whereas on a weekly basis, it is put at 6.27%, with a gain of 7.12% over the past seven days. Furthermore, long-term investors anticipate a median target price of $19.62, showing growth from the present price of $9.03, which can serve as yet another indication of whether SG is worth investing in or should be passed over.
How Do You Analyze Sweetgreen Inc. Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 8.20%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 96.30% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in SG shares?
The recent increase in stakes in SG appears to be a result of several institutional investors and hedge funds increasing their positions. Fidelity Management & Research Co’s position in SG has increased by 1.05% in the first quarter. The company now owns 13,789,026 shares of the stock, with a value of $197.6 million, following the purchase of 143,693 additional shares during the last quarter. T. Rowe Price Associates, Inc. made another decreased to its shares in SG during the first quarter, downing its stake by -3.64%. During the last quarter, the company picked up -492,325 additional shares for a total stake of worth $186.52 million, bringing number of shares owned by the company to 13,016,307.
At the end of the first quarter, BlackRock Fund Advisors increased its SG holdings by 459.26% and now holds 4.57 million SG shares valued at $65.51 million with the added 3.75 million shares during the period. SG shares are owned by institutional investors to the tune of 96.30% at present.