MYDA Advisors LLC Buys New Shares in Sweetgreen, Inc. $SG

MYDA Advisors LLC bought a new stake in Sweetgreen, Inc. (NYSE:SG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 100,000 shares of the company’s stock, valued at approximately $676,000.

A number of other institutional investors have also added to or reduced their stakes in SG. Larson Financial Group LLC increased its stake in Sweetgreen by 165.8% in the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after acquiring an additional 2,349 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in Sweetgreen by 124.1% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 6,292 shares of the company’s stock valued at $50,000 after acquiring an additional 3,484 shares during the last quarter. CWM LLC grew its stake in shares of Sweetgreen by 212.2% during the fourth quarter. CWM LLC now owns 7,333 shares of the company’s stock valued at $50,000 after buying an additional 4,984 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Sweetgreen by 281.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock valued at $53,000 after buying an additional 5,839 shares during the last quarter. Finally, Eastern Bank grew its stake in shares of Sweetgreen by 228.5% during the fourth quarter. Eastern Bank now owns 8,780 shares of the company’s stock valued at $59,000 after buying an additional 6,107 shares during the last quarter. Institutional investors own 95.75% of the company’s stock.

Sweetgreen Price Performance

NYSE SG opened at $9.04 on Monday. The stock has a market capitalization of $1.07 billion, a PE ratio of 75.35 and a beta of 2.15. Sweetgreen, Inc. has a 1 year low of $4.49 and a 1 year high of $16.70. The business’s 50-day moving average is $7.46 and its 200 day moving average is $6.71.

Sweetgreen (NYSE:SG) last posted its earnings results on Thursday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The business had revenue of $161.52 million during the quarter, compared to the consensus estimate of $163.95 million. Sweetgreen had a negative return on equity of 33.07% and a net margin of 2.49%.The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.21) earnings per share. As a group, equities research analysts anticipate that Sweetgreen, Inc. will post -0.76 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SG shares. UBS Group raised their price objective on Sweetgreen from $6.50 to $7.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Oppenheimer raised their price objective on Sweetgreen from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, May 20th. Weiss Ratings raised Sweetgreen from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 22nd. BNP Paribas Exane raised their price objective on Sweetgreen from $4.50 to $5.00 and gave the company an “underperform” rating in a research note on Friday, May 8th. Finally, Wolfe Research started coverage on Sweetgreen in a research note on Monday, March 9th. They set a “peer perform” rating on the stock. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.04.

Insider Activity

In other Sweetgreen news, major shareholder Goldman Sachs Group Inc bought 594,553 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The shares were bought at an average cost of $5.69 per share, with a total value of $3,383,006.57. Following the completion of the purchase, the insider directly owned 11,900,255 shares of the company’s stock, valued at $67,712,450.95. This trade represents a 5.26% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 18.19% of the stock is owned by insiders.

Sweetgreen 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.