Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Sweetgreen Inc shares valued at $619,270 were sold by Reback Mitch on Mar 12 ’24. At $21.01 per share, Reback Mitch sold 29,475 shares. The insider’s holdings dropped to 405,584 shares worth approximately $9.73 million following the completion of this transaction.
Also, Neman Jonathan sold 58,067 shares, netting a total of over 950,120 in proceeds. Following the sale of shares at $16.36 each, the insider now holds 0 shares.
Before that, Gemperle Adrienne had sold 4,000 shares from its account. In a trade valued at $64,000, the CHIEF PEOPLE OFFICER traded Sweetgreen Inc shares for $16.00 each. Upon closing the transaction, the insider’s holdings decreased to 4,000 shares, worth approximately $3.1 million.
As published in a research note from Oppenheimer on April 01, 2024, Sweetgreen Inc [SG] has been retained to an Outperform and the price target has been revised to $34. Analysts at Morgan Stanley downgraded the stock from ‘”an Equal-weight”‘ to ‘”an Underweight”‘ outlook in a report released in mid January. As of July 31, 2023, Piper Sandler has increased its “Neutral” rating to a “an Overweight” for SG. Earlier on July 06, 2023, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for SG stock which previously was a “a Neutral”.
Analyzing SG Stock Performance
During the last five days, there has been a drop of approximately -5.89%. Over the course of the year, Sweetgreen Inc shares have jumped approximately 112.21%. Shares of the company reached a 52-week high of $26.45 on 04/01/24 and a 52-week low of $9.66 on 01/17/24. A 50-day SMA is recorded $16.56, while a 200-day SMA reached $13.15. Nevertheless, trading volume fell to 1.39 million shares from 1.85 million shares the previous day.
Support And Resistance Levels for Sweetgreen Inc (SG)
According to the 24-hour chart, there is a support level at 23.51, which, if violated, would cause prices to drop to 23.04. In the upper region, resistance lies at 24.71. The next price resistance is at 25.44. RSI (Relative Strength Index) is 67.31 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.18, which suggests the price will decrease in the coming days. Percent R is at 48.15%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Sweetgreen Inc subject to short interest?
Stocks of Sweetgreen Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by -2.48 million shares to 12.0 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 14.48 million shares. A decline of -20.67% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.42 of the overall float, the days-to-cover ratio (short ratio) decline to 3.42.
