Sight Sciences’ (SGHT) “Hold” Rating Reaffirmed at Needham & Company LLC

Sight Sciences (NASDAQ:SGHT)‘s stock had its “hold” rating restated by Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley raised their price target on shares of Sight Sciences from $5.40 to $6.50 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Lake Street Capital lowered shares of Sight Sciences from a “buy” rating to a “hold” rating and decreased their price target for the stock from $10.00 to $5.00 in a research note on Monday. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.88.

Sight Sciences Trading Down 8.2 %

SGHT opened at $4.68 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 11.01 and a quick ratio of 10.50. Sight Sciences has a fifty-two week low of $1.58 and a fifty-two week high of $8.45. The firm has a market capitalization of $235.45 million, a PE ratio of -4.37 and a beta of 2.74. The company’s 50-day moving average is $5.98 and its 200 day moving average is $6.25.

Sight Sciences (NASDAQ:SGHT) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.01. The firm had revenue of $20.16 million during the quarter, compared to analyst estimates of $20.41 million. Sight Sciences had a negative net margin of 65.90% and a negative return on equity of 45.68%. As a group, research analysts predict that Sight Sciences will post -1 earnings per share for the current fiscal year.

Insider Buying and Selling at Sight Sciences

In other news, insider Jeremy B. Hayden sold 4,878 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $6.08, for a total transaction of $29,658.24. Following the sale, the insider now owns 158,687 shares in the company, valued at approximately $964,816.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Matthew Link sold 21,831 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $5.61, for a total transaction of $122,471.91. Following the sale, the insider now owns 663,550 shares in the company, valued at approximately $3,722,515.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jeremy B. Hayden sold 4,878 shares of Sight Sciences stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $6.08, for a total transaction of $29,658.24. Following the completion of the transaction, the insider now owns 158,687 shares in the company, valued at approximately $964,816.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,357 shares of company stock valued at $574,666 in the last three months. Company insiders own 28.90% of the company’s stock.

Hedge Funds Weigh In On Sight Sciences

A number of large investors have recently added to or reduced their stakes in the business. American Century Companies Inc. raised its position in Sight Sciences by 31.1% in the 2nd quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock worth $240,000 after purchasing an additional 8,527 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Sight Sciences by 51.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock worth $141,000 after purchasing an additional 9,106 shares during the period. Steele Capital Management Inc. purchased a new position in Sight Sciences in the 2nd quarter worth $67,000. State Board of Administration of Florida Retirement System purchased a new position in Sight Sciences in the 1st quarter worth $59,000. Finally, Rhumbline Advisers raised its position in Sight Sciences by 40.1% in the 2nd quarter. Rhumbline Advisers now owns 40,811 shares of the company’s stock worth $272,000 after purchasing an additional 11,671 shares during the period. Hedge funds and other institutional investors own 55.51% of the company’s stock.

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.