Sweetgreen Inc. (NYSE:SG) marked $9.59 per share on Tuesday, down from a previous closing price of $9.73. While Sweetgreen Inc. has underperformed by -1.44%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SG fell by -60.94%, with highs and lows ranging from $40.10 to $7.81, whereas the simple moving average fell by -42.74% in the last 200 days.
On January 17, 2023, Morgan Stanley Downgraded Sweetgreen Inc. (NYSE: SG) to Equal-Weight. A report published by BofA Securities on June 27, 2022, Initiated its previous ‘Neutral’ rating for SG. Cowen also reiterated SG shares as ‘Outperform’, quoting a target price of $22 on the company’s shares in a report dated June 15, 2022. Citigroup Initiated an Neutral rating on April 12, 2022, and assigned a price target of $32. Oppenheimer resumed its ‘Outperform’ rating for SG, as published in its report on March 04, 2022. RBC Capital Mkts 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.
In order to gain a clear picture of Sweetgreen Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. 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.
An average volume of 1.64M can be a very valuable indicator of volatility for SG stock. On a monthly basis, the volatility of the stock is set at 6.06%, whereas on a weekly basis, it is put at 4.72%, with a loss of -2.44% over the past seven days. Furthermore, long-term investors anticipate a median target price of $16.86, showing growth from the present price of $9.59, 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?
In addition to the fundamentals, you should also consider how many employees own shares in the company. 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 $118.17 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 $111.55 million, bringing number of shares owned by the company to 13,016,307.
During the first quarter, The Vanguard Group, Inc. added a 449,492 position in SG. Baillie Gifford & Co. purchased an additional 3.14 million shares in the last quarter, increasing its holdings by 146.05%, now holding 5.29 million shares worth $45.35 million. SG shares are owned by institutional investors to the tune of 96.30% at present.