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

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have been given a consensus rating of “Hold” by the seven ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $5.70.

Several research firms have recently weighed in on SGHT. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a report on Friday, August 2nd. Morgan Stanley lifted their price target on Sight Sciences from $5.40 to $6.50 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Piper Sandler reissued a “neutral” rating and issued a $6.00 price target (up previously from $5.00) on shares of Sight Sciences in a report on Friday, May 3rd. Finally, Citigroup increased their price objective on Sight Sciences from $6.00 to $6.50 and gave the stock a “neutral” rating in a report on Wednesday, July 10th.

Sight Sciences Price Performance

Sight Sciences stock opened at $6.05 on Tuesday. The company has a current ratio of 11.01, a quick ratio of 10.50 and a debt-to-equity ratio of 0.33. The company has a market cap of $304.38 million, a price-to-earnings ratio of -5.40 and a beta of 2.75. Sight Sciences has a 12 month low of $1.04 and a 12 month high of $8.45. The business’s 50 day simple moving average is $6.74 and its 200 day simple moving average is $5.72.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.06. Sight Sciences had a negative return on equity of 45.68% and a negative net margin of 65.90%. The company had revenue of $21.37 million for the quarter, compared to analyst estimates of $21.32 million. During the same period in the previous year, the company posted ($0.30) EPS. Sell-side analysts forecast that Sight Sciences will post -1 EPS for the current year.

Insider Buying and Selling

In other Sight Sciences news, CEO Paul Badawi sold 12,569 shares of Sight Sciences stock in a transaction dated 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 transaction, the chief executive officer now directly owns 5,738,160 shares of the company’s stock, valued at $36,838,987.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Paul Badawi sold 12,569 shares of Sight Sciences stock in a transaction dated Monday, July 1st. The stock was 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 in the company, valued at approximately $36,838,987.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Alison Bauerlein sold 10,497 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $6.21, for a total transaction of $65,186.37. Following the transaction, the chief financial officer now owns 402,685 shares in the company, valued at approximately $2,500,673.85. The disclosure for this sale can be found here. Insiders have sold 34,774 shares of company stock valued at $219,243 over the last quarter. Corporate insiders own 28.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Long Focus Capital Management LLC raised its holdings in Sight Sciences by 86.9% in the 2nd quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock worth $3,739,000 after purchasing an additional 260,594 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of Sight Sciences in the second quarter valued at about $95,000. American Century Companies Inc. boosted its stake in shares of Sight Sciences by 31.1% in the second quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock worth $240,000 after acquiring an additional 8,527 shares during the period. Acadian Asset Management LLC grew its position in shares of Sight Sciences by 256.6% during the second quarter. Acadian Asset Management LLC now owns 83,693 shares of the company’s stock worth $556,000 after purchasing an additional 60,220 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Sight Sciences by 40.1% during the 2nd quarter. Rhumbline Advisers now owns 40,811 shares of the company’s stock valued at $272,000 after purchasing an additional 11,671 shares during the period. 55.51% of the stock is owned by hedge funds and other institutional investors.

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.