Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Sweetgreen Inc shares valued at $282,607 were sold by Reback Mitch on May 22 ’24. At $31.98 per share, Reback Mitch sold 8,837 shares. The insider’s holdings dropped to 388,337 shares worth approximately $12.02 million following the completion of this transaction.
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Also, Moon Youngme E sold 70,000 shares, netting a total of over 2,223,900 in proceeds. Following the sale of shares at $31.77 each, the insider now holds 66,152 shares.
Before that, SINGER BRADLEY E had sold 60,000 shares from its account. In a trade valued at $1,938,270, the Director traded Sweetgreen Inc shares for $32.30 each. Upon closing the transaction, the insider’s holdings decreased to 60,000 shares, worth approximately $5.65 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 -2.64%. Over the course of the year, Sweetgreen Inc shares have jumped approximately 173.81%. Shares of the company reached a 52-week high of $34.45 on 05/10/24 and a 52-week low of $9.66 on 01/17/24. A 50-day SMA is recorded $24.86, while a 200-day SMA reached $15.09. Nevertheless, trading volume fell to 1.88 million shares from 3.26 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 29.87, which, if violated, would cause prices to drop to 28.80. In the upper region, resistance lies at 32.17. The next price resistance is at 33.40. RSI (Relative Strength Index) is 63.24 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.09, which suggests the price will increase in the coming days. Percent R is at 28.94%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
