Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. 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 $8.45 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 $2.7 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 -11.09%. Over the course of the year, Sweetgreen Inc shares have jumped approximately 84.42%. 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 $18.93, while a 200-day SMA reached $13.70. Nevertheless, trading volume fell to 1.38 million shares from 1.91 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 20.40, which, if violated, would cause prices to drop to 19.97. In the upper region, resistance lies at 21.33. The next price resistance is at 21.83. RSI (Relative Strength Index) is 44.00 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.20, which suggests the price will decrease in the coming days. Percent R is at 91.22%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
