Sight Sciences, Inc. (NASDAQ:SGHT) Given Average Rating of “Hold” by Brokerages

Sight Sciences, Inc. (NASDAQ:SGHT) has been given an average rating of “Hold” by the six research firms that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $5.12.

Several analysts have issued reports on the company. Lake Street Capital lowered Sight Sciences from a “buy” rating to a “hold” rating and cut their price target for the company from $10.00 to $5.00 in a report on Monday, November 4th. Piper Sandler reissued a “neutral” rating and issued a $5.50 target price (down from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. Citigroup lowered their price target on shares of Sight Sciences from $5.80 to $4.60 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. 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. Finally, Morgan Stanley lowered their target price on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th.

Sight Sciences Trading Down 1.1 %

Shares of NASDAQ:SGHT opened at $3.53 on Tuesday. Sight Sciences has a 52-week low of $3.30 and a 52-week high of $8.45. The stock has a market capitalization of $179.17 million, a price-to-earnings ratio of -3.46 and a beta of 2.58. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18. The stock’s 50-day simple moving average is $4.19 and its two-hundred day simple moving average is $5.72.

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

Insider Buying and Selling at Sight Sciences

In other Sight Sciences news, CEO Paul Badawi sold 12,727 shares of Sight Sciences stock in a transaction on Wednesday, October 2nd. The shares were 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. This trade represents a 0.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Matthew Link sold 20,734 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $5.91, for a total transaction of $122,537.94. Following the completion of the sale, the insider now owns 726,838 shares in the company, valued at approximately $4,295,612.58. This trade represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 15,000 shares of company stock worth $58,232 and have sold 78,946 shares worth $462,727. 28.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sight Sciences

Several large investors have recently added to or reduced their stakes in the stock. Millrace Asset Group Inc. bought a new position in shares of Sight Sciences during the 3rd quarter valued at approximately $874,000. Acadian Asset Management LLC raised its stake in shares of Sight Sciences by 256.6% in the second quarter. Acadian Asset Management LLC now owns 83,693 shares of the company’s stock valued at $556,000 after acquiring an additional 60,220 shares during the period. Long Focus Capital Management LLC raised its stake in shares of Sight Sciences by 86.9% in the second quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock valued at $3,739,000 after acquiring an additional 260,594 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Sight Sciences by 46.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 207,893 shares of the company’s stock worth $1,310,000 after acquiring an additional 65,767 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Sight Sciences during the 2nd quarter worth about $1,234,000. 55.51% of the stock is 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.