Sweetgreen Inc (NYSE:SG) price on Wednesday, October 23, fall -0.19% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $36.89.
A look at the stock’s price movement, the close in the last trading session was $36.96, moving within a range at $35.91 and $37.6634. The beta value (5-Year monthly) was 2.341. Turning to its 52-week performance, $39.75 and $8.64 were the 52-week high and 52-week low respectively. Overall, SG moved 1.07% over the past month.
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Sweetgreen Inc’s market cap currently stands at around $4.21 billion, with investors looking forward to this quarter’s earnings report slated for in November.
Analysts have a consensus estimate of 175.66M for the company’s revenue for the quarter, with a low and high estimate of 173.16M and 179.66M respectively. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 678.4M, representing a 16.20% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that SG is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
9 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 6 recommend SG as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
SG’s current price about 1.66% and 6.49% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 54.22, while 7-day volatility ratio is 5.48% and 6.06% in the 30-day chart. Further, Sweetgreen Inc (SG) has a beta value of 2.34, and an average true range (ATR) of 2.16. Analysts have given the company’s stock an average 52-week price target of $36, forecast between a low of $12 and high of $45. Looking at the price targets, the low is 67.47% off current price level while to achieve the yearly target high, price needs to move -21.98%. Nonetheless, investors will most likely welcome a 2.41% jump to $36 which is the analysts’ median price.
If we refocus on Sweetgreen Inc (NYSE:SG), historical trading data shows that trading volumes averaged 2.54 over the past 10 days and 3.39 million over the past 3 months. The company’s latest data on shares outstanding shows there are 99.70 million shares.
The 18.79% of Sweetgreen Inc’s shares are in the hands of company insiders while institutional holders own 82.45% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 17.84 million on 2024-09-30, giving us a short ratio of 5.42. The data shows that as of 2024-09-30 short interest in Sweetgreen Inc (SG) stood at 2428.0001 of shares outstanding, with shares short rising to 14.57 million registered in 2024-08-30. Current price change has pushed the stock 226.46% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SG stock continues to rise going into the next quarter.
