Consider the equation for velocity of a body undergoing SHM-

$$ v(t)=-\omega Asin(\omega t+\phi)$$

What does this negative sign mean?

Does it mean that velocity can be positive or negative at the same location in space?

OR,

Does it mean that velocity increases while displacement decreases in terms of their magnitude while their directions are opposite sometimes and sometimes remain the same? Does this actually have any significance?

Or, is it something else?

Consider the equation for velocity of a body undergoing SHM-

$$ v(t)=-\omega A\sin(\omega t+\phi)$$

What does this negative sign mean?

Does it mean that velocity can be positive or negative at the same location in space?

OR,

Does it mean that velocity increases while displacement decreases in terms of their magnitude while their directions are opposite sometimes and sometimes remain the same? Does this actually have any significance?

Or, is it something else?