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

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have been given a consensus rating of “Hold” by the seven research firms that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $3.83.

A number of analysts recently issued reports on the stock. Lake Street Capital decreased their target price on shares of Sight Sciences from $3.00 to $2.50 and set a “hold” rating on the stock in a research report on Thursday, March 6th. Piper Sandler decreased their target price on shares of Sight Sciences from $5.50 to $3.50 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Stifel Nicolaus decreased their price target on shares of Sight Sciences from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Citigroup decreased their price target on shares of Sight Sciences from $4.60 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, UBS Group decreased their price target on shares of Sight Sciences from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Monday, January 27th.

Sight Sciences Trading Up 13.3 %

Shares of SGHT opened at $2.72 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.18 and a quick ratio of 9.74. The firm has a 50 day simple moving average of $2.80 and a 200-day simple moving average of $4.25. Sight Sciences has a 1-year low of $2.17 and a 1-year high of $8.45. The stock has a market cap of $138.05 million, a price-to-earnings ratio of -2.67 and a beta of 2.52.

Sight Sciences (NASDAQ:SGHT) last announced its earnings results on Wednesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.01). Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. The firm had revenue of $19.07 million for the quarter, compared to analyst estimates of $18.98 million. During the same quarter last year, the business posted ($0.22) EPS. Equities analysts forecast that Sight Sciences will post -0.99 EPS for the current fiscal year.

Insider Activity

In related news, CEO Paul Badawi sold 24,819 shares of Sight Sciences stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $2.92, for a total transaction of $72,471.48. Following the sale, the chief executive officer now owns 5,676,331 shares of the company’s stock, valued at $16,574,886.52. The trade was a 0.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Manohar K. Raheja purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of $2.73 per share, for a total transaction of $27,300.00. Following the purchase, the executive vice president now directly owns 145,000 shares in the company, valued at $395,850. This trade represents a 7.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 63,014 shares of company stock valued at $197,295. Company insiders own 28.90% of the company’s stock.

Institutional Investors Weigh In On Sight Sciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KCK LTD. bought a new stake in shares of Sight Sciences in the 4th quarter worth about $15,925,000. Long Focus Capital Management LLC increased its position in shares of Sight Sciences by 158.8% in the 4th quarter. Long Focus Capital Management LLC now owns 2,238,632 shares of the company’s stock worth $8,149,000 after purchasing an additional 1,373,535 shares during the last quarter. B Group Inc. bought a new stake in shares of Sight Sciences in the 4th quarter worth about $2,291,000. Prosight Management LP increased its position in shares of Sight Sciences by 71.1% in the 4th quarter. Prosight Management LP now owns 908,847 shares of the company’s stock worth $3,308,000 after purchasing an additional 377,625 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Sight Sciences by 654.3% in the 4th quarter. Renaissance Technologies LLC now owns 393,006 shares of the company’s stock worth $1,431,000 after purchasing an additional 340,906 shares during the last quarter. Hedge funds and other institutional investors own 55.51% of the company’s stock.

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.