Sight Sciences, Inc. (NASDAQ:SGHT) Receives Consensus Recommendation of “Hold” from Brokerages

Sight Sciences, Inc. (NASDAQ:SGHT) has been assigned a consensus rating of “Hold” from the six research firms that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $5.12.

SGHT has been the subject of several research reports. UBS Group assumed coverage on shares of Sight Sciences in a research note on Friday, December 6th. They issued a “buy” rating and a $5.50 price objective for the company. Piper Sandler reiterated a “neutral” rating and issued a $5.50 price target (down from $6.00) on shares of Sight Sciences in a research note on Friday, November 8th. Lake Street Capital lowered Sight Sciences from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $10.00 to $5.00 in a research report on Monday, November 4th. Morgan Stanley dropped their target price on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research note on Friday, November 8th.

Sight Sciences Trading Down 2.6 %

Shares of SGHT opened at $3.40 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18. Sight Sciences has a 52-week low of $3.30 and a 52-week high of $8.45. The firm has a market cap of $172.57 million, a price-to-earnings ratio of -3.33 and a beta of 2.57. The business’s fifty day moving average is $3.97 and its 200-day moving average is $5.60.

Sight Sciences (NASDAQ:SGHT) last released its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. The firm had revenue of $20.16 million for the quarter, compared to analysts’ expectations of $20.41 million. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. Equities analysts anticipate that Sight Sciences will post -1.01 EPS for the current fiscal year.

Insider Buying and Selling at Sight Sciences

In related news, CEO Paul Badawi sold 12,236 shares of Sight Sciences stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $3.60, for a total value of $44,049.60. Following the transaction, the chief executive officer now directly owns 5,713,197 shares of the company’s stock, valued at $20,567,509.20. The trade was a 0.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Matthew Link sold 21,831 shares of the stock in a transaction that occurred 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 directly owns 663,550 shares of the company’s stock, valued at $3,722,515.50. This represents a 3.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 15,000 shares of company stock worth $58,232 and have sold 83,263 shares worth $439,644. Corporate insiders own 28.90% of the company’s stock.

Hedge Funds Weigh In On Sight Sciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Sight Sciences in the 3rd quarter worth about $75,000. The Manufacturers Life Insurance Company acquired a new stake in Sight Sciences during the second quarter worth approximately $95,000. GSA Capital Partners LLP bought a new stake in Sight Sciences in the third quarter worth approximately $136,000. American Century Companies Inc. lifted its stake in Sight Sciences by 31.1% in the second quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock valued at $240,000 after buying an additional 8,527 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Sight Sciences by 40.1% during the 2nd quarter. Rhumbline Advisers now owns 40,811 shares of the company’s stock worth $272,000 after buying an additional 11,671 shares in the last quarter. Institutional investors and hedge funds 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.