Sight Sciences, Inc. (NASDAQ:SGHT) Short Interest Update

Sight Sciences, Inc. (NASDAQ:SGHT) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 1,910,000 shares, a growth of 22.4% from the February 28th total of 1,560,000 shares. Based on an average daily volume of 265,500 shares, the days-to-cover ratio is currently 7.2 days. Currently, 6.7% of the company’s shares are short sold.

Insider Buying and Selling

In other Sight Sciences news, EVP Manohar K. Raheja bought 10,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $2.73 per share, for a total transaction of $27,300.00. Following the acquisition, the executive vice president now directly owns 145,000 shares of the company’s stock, valued at approximately $395,850. This trade represents a 7.41 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Paul Badawi sold 24,819 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 5,676,331 shares in the company, valued at approximately $16,574,886.52. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,778 shares of company stock valued at $153,246. 28.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. lifted its stake in shares of Sight Sciences by 10.7% in the fourth quarter. American Century Companies Inc. now owns 51,564 shares of the company’s stock valued at $188,000 after buying an additional 4,964 shares during the period. SG Americas Securities LLC lifted its position in shares of Sight Sciences by 47.6% in the 4th quarter. SG Americas Securities LLC now owns 17,622 shares of the company’s stock worth $64,000 after acquiring an additional 5,681 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Sight Sciences by 53.4% during the 4th quarter. Wells Fargo & Company MN now owns 16,600 shares of the company’s stock worth $60,000 after purchasing an additional 5,781 shares in the last quarter. Barclays PLC increased its position in shares of Sight Sciences by 11.9% during the fourth quarter. Barclays PLC now owns 56,294 shares of the company’s stock valued at $205,000 after purchasing an additional 5,994 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Sight Sciences by 2.1% in the fourth quarter. Northern Trust Corp now owns 332,491 shares of the company’s stock valued at $1,210,000 after purchasing an additional 6,727 shares in the last quarter. Institutional investors own 55.51% of the company’s stock.

Analysts Set New Price Targets

SGHT has been the topic of several research reports. Citigroup dropped their target price on Sight Sciences from $4.60 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research report on Thursday, March 6th. Lake Street Capital reduced their price objective on shares of Sight Sciences from $3.00 to $2.50 and set a “hold” rating for the company in a research note on Thursday, March 6th. UBS Group cut their target price on Sight Sciences from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Finally, Stifel Nicolaus decreased their price target on Sight Sciences from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $3.83.

Sight Sciences Price Performance

Shares of NASDAQ:SGHT opened at $2.25 on Thursday. The company has a market cap of $115.50 million, a price-to-earnings ratio of -2.21 and a beta of 2.52. The business has a 50 day moving average price of $2.70 and a 200 day moving average price of $3.90. The company has a quick ratio of 9.74, a current ratio of 10.18 and a debt-to-equity ratio of 0.36. Sight Sciences has a twelve month low of $2.17 and a twelve month high of $8.45.

Sight Sciences (NASDAQ:SGHT) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.01). Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. The business had revenue of $19.07 million during the quarter, compared to the consensus estimate of $18.98 million. During the same period in the prior year, the company posted ($0.22) earnings per share. Research analysts predict that Sight Sciences will post -0.99 earnings per share for the current year.

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.