Sight Sciences (NASDAQ:SGHT) Rating Lowered to “Hold” at Lake Street Capital

Sight Sciences (NASDAQ:SGHT) was downgraded by stock analysts at Lake Street Capital from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $5.00 price target on the stock, down from their prior price target of $10.00. Lake Street Capital’s target price suggests a potential upside of 6.16% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Citigroup increased their target price on shares of Sight Sciences from $6.00 to $6.50 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a report on Friday, August 2nd. Finally, Morgan Stanley increased their price target on Sight Sciences from $5.40 to $6.50 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $6.00.

Sight Sciences Price Performance

Sight Sciences stock opened at $4.71 on Monday. The firm has a market capitalization of $236.96 million, a P/E ratio of -4.47 and a beta of 2.74. The business has a 50-day moving average of $6.10 and a 200-day moving average of $6.27. The company has a current ratio of 11.01, a quick ratio of 10.50 and a debt-to-equity ratio of 0.33. Sight Sciences has a 1 year low of $1.58 and a 1 year high of $8.45.

Insider Activity

In other Sight Sciences news, CEO Paul Badawi sold 12,727 shares of Sight Sciences stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $5.99, for a total value of $76,234.73. Following the completion of the transaction, the chief executive officer now directly owns 5,725,433 shares of the company’s stock, valued at $34,295,343.67. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sight Sciences news, CEO Paul Badawi sold 12,727 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $5.99, for a total value of $76,234.73. Following the sale, the chief executive officer now owns 5,725,433 shares of the company’s stock, valued at approximately $34,295,343.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Matthew Link sold 21,831 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $5.61, for a total value of $122,471.91. Following the transaction, the insider now directly owns 663,550 shares of the company’s stock, valued at approximately $3,722,515.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,357 shares of company stock worth $574,666. Corporate insiders own 28.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 in the last quarter. State Board of Administration of Florida Retirement System bought a new position in Sight Sciences in the 1st quarter valued at approximately $59,000. Vanguard Group Inc. boosted its position in Sight Sciences by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 1,556,450 shares of the company’s stock worth $8,218,000 after buying an additional 81,768 shares during the period. Jacobs Levy Equity Management Inc. increased its position in Sight Sciences by 25.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 377,057 shares of the company’s stock valued at $1,991,000 after acquiring an additional 76,549 shares during the period. Finally, Steele Capital Management Inc. bought a new position in shares of Sight Sciences during the second quarter valued at $67,000. 55.51% of the stock is currently owned by institutional investors.

About Sight Sciences

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.