Piper Sandler Reaffirms Neutral Rating for Sight Sciences (NASDAQ:SGHT)

Piper Sandler reaffirmed their neutral rating on shares of Sight Sciences (NASDAQ:SGHT) in a report released on Friday morning, Benzinga reports. The firm currently has a $6.00 price objective on the stock, up from their previous price objective of $5.00.

Separately, Needham & Company LLC reiterated a hold rating on shares of Sight Sciences in a research report on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Sight Sciences presently has an average rating of Hold and a consensus target price of $4.70.

Sight Sciences Stock Performance

Sight Sciences stock opened at $5.82 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 12.65 and a current ratio of 13.29. Sight Sciences has a 12 month low of $1.04 and a 12 month high of $10.97. The stock’s 50 day simple moving average is $5.11 and its two-hundred day simple moving average is $4.19.

Sight Sciences (NASDAQ:SGHT) last announced its earnings results on Thursday, March 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.13. Sight Sciences had a negative return on equity of 42.84% and a negative net margin of 67.18%. The firm had revenue of $18.75 million for the quarter, compared to analyst estimates of $18.70 million. During the same quarter last year, the firm posted ($0.35) EPS. On average, equities analysts expect that Sight Sciences will post -1.04 earnings per share for the current year.

Insiders Place Their Bets

In other Sight Sciences news, CEO Paul Badawi sold 12,571 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $5.08, for a total value of $63,860.68. Following the completion of the sale, the chief executive officer now directly owns 5,750,729 shares of the company’s stock, valued at approximately $29,213,703.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Alison Bauerlein sold 10,123 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $5.08, for a total transaction of $51,424.84. Following the completion of the sale, the chief financial officer now directly owns 426,248 shares of the company’s stock, valued at approximately $2,165,339.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul Badawi sold 12,571 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $5.08, for a total value of $63,860.68. Following the sale, the chief executive officer now directly owns 5,750,729 shares of the company’s stock, valued at $29,213,703.32. The disclosure for this sale can be found here. Insiders sold 34,129 shares of company stock valued at $173,375 in the last three months. 27.10% of the stock is currently owned by insiders.

Institutional Trading of Sight Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its position in shares of Sight Sciences by 180.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,076 shares of the company’s stock worth $62,000 after purchasing an additional 7,764 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Sight Sciences by 51.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock valued at $141,000 after acquiring an additional 9,106 shares during the period. Boston Partners boosted its holdings in Sight Sciences by 3.1% during the 3rd quarter. Boston Partners now owns 331,776 shares of the company’s stock valued at $1,117,000 after acquiring an additional 9,919 shares during the period. Swiss National Bank boosted its holdings in Sight Sciences by 19.5% during the 3rd quarter. Swiss National Bank now owns 69,314 shares of the company’s stock valued at $234,000 after acquiring an additional 11,300 shares during the period. Finally, Federated Hermes Inc. boosted its stake in shares of Sight Sciences by 100.0% in the 3rd quarter. Federated Hermes Inc. now owns 60,000 shares of the company’s stock valued at $202,000 after buying an additional 30,000 shares during the period. 55.51% of the stock is owned by institutional investors and hedge funds.

Sight Sciences Company Profile

Sight Sciences, Inc, an ophthalmic medical device company, engages in the development and commercialization of surgical and nonsurgical technologies for the treatment of eye diseases. It operates through two segments, Surgical Glaucoma and Dry Eye. The company's products include OMNI Surgical System, an implant-free glaucoma surgery technology indicated to reduce intraocular pressure in adult patients with primary open-angle glaucoma; and SION Surgical Instrument, a manually operated device used in ophthalmic surgical procedures to excise trabecular meshwork.