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

Sight Sciences, Inc. (NASDAQ:SGHT) was the recipient of a large growth in short interest in July. As of July 15th, there was short interest totalling 1,300,000 shares, a growth of 20.4% from the June 30th total of 1,080,000 shares. Based on an average daily volume of 181,000 shares, the short-interest ratio is currently 7.2 days. Approximately 4.9% of the shares of the stock are short sold.

Analyst Ratings Changes

Several research firms have recently issued reports on SGHT. Piper Sandler restated a “neutral” rating and set a $6.00 target price (up from $5.00) on shares of Sight Sciences in a research report on Friday, May 3rd. Morgan Stanley boosted their price objective on shares of Sight Sciences from $5.40 to $6.50 and gave the company an “equal weight” rating in a report on Monday, July 15th. 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. Finally, Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.70.

Insider Activity at Sight Sciences

In other news, CEO Paul Badawi sold 12,569 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $6.42, for a total transaction of $80,692.98. Following the sale, the chief executive officer now owns 5,738,160 shares in the company, valued at $36,838,987.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Sight Sciences news, insider Jeremy B. Hayden sold 5,055 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $6.21, for a total transaction of $31,391.55. Following the transaction, the insider now owns 163,565 shares of the company’s stock, valued at approximately $1,015,738.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Paul Badawi sold 12,569 shares of Sight Sciences stock in a transaction on Monday, July 1st. The shares were sold at an average price of $6.42, for a total value of $80,692.98. Following the completion of the sale, the chief executive officer now directly owns 5,738,160 shares of the company’s stock, valued at $36,838,987.20. The disclosure for this sale can be found here. Insiders sold 47,840 shares of company stock valued at $290,061 in the last three months. Corporate insiders own 28.90% of the company’s stock.

Institutional Investors Weigh In On Sight Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System purchased a new stake in Sight Sciences during the first quarter worth about $59,000. Tower Research Capital LLC TRC raised its holdings in shares of Sight Sciences by 180.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 12,076 shares of the company’s stock worth $62,000 after purchasing an additional 7,764 shares during the period. Steele Capital Management Inc. purchased a new position in Sight Sciences in the second quarter valued at approximately $67,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Sight Sciences by 51.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock worth $141,000 after acquiring an additional 9,106 shares during the period. Finally, Panagora Asset Management Inc. increased its holdings in Sight Sciences by 198.1% in the 4th quarter. Panagora Asset Management Inc. now owns 59,190 shares of the company’s stock worth $305,000 after acquiring an additional 39,333 shares during the last quarter. 55.51% of the stock is owned by hedge funds and other institutional investors.

Sight Sciences Trading Down 3.5 %

Sight Sciences stock traded down $0.28 during trading hours on Friday, hitting $7.75. The stock had a trading volume of 246,914 shares, compared to its average volume of 285,838. The stock has a market cap of $385.64 million, a price-to-earnings ratio of -6.92 and a beta of 2.74. The company has a quick ratio of 12.42, a current ratio of 13.01 and a debt-to-equity ratio of 0.31. The business’s 50 day simple moving average is $6.71 and its 200-day simple moving average is $5.59. Sight Sciences has a one year low of $1.04 and a one year high of $9.31.

Sight Sciences (NASDAQ:SGHT) last announced its earnings results on Thursday, May 2nd. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.04). The company had revenue of $19.27 million for the quarter, compared to analyst estimates of $18.34 million. Sight Sciences had a negative return on equity of 44.45% and a negative net margin of 67.18%. On average, equities analysts predict that Sight Sciences will post -1.13 EPS for the current fiscal year.

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.