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

Sight Sciences, Inc. (NASDAQ:SGHT) has earned an average rating of “Hold” from the six research firms that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $4.62.

A number of brokerages recently commented on SGHT. Morgan Stanley reduced their price objective on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Citigroup reduced their price objective on shares of Sight Sciences from $5.80 to $4.60 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. UBS Group reduced their price objective on shares of Sight Sciences from $5.50 to $5.00 and set a “buy” rating for the company in a research report on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Sight Sciences in a research report on Tuesday, January 14th. Finally, Piper Sandler reiterated a “neutral” rating and set a $5.50 price target (down from $6.00) on shares of Sight Sciences in a research report on Friday, November 8th.

Insider Transactions at Sight Sciences

In other Sight Sciences news, CEO Paul Badawi sold 24,819 shares of Sight Sciences stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $2.92, for a total value of $72,471.48. Following the completion of the sale, the chief executive officer now directly owns 5,676,331 shares of the company’s stock, valued at approximately $16,574,886.52. The trade was a 0.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders acquired 15,000 shares of company stock valued at $58,232 and sold 63,014 shares valued at $197,295. Corporate insiders own 28.90% of the company’s stock.

Institutional Trading of Sight Sciences

Several institutional investors have recently made changes to their positions in SGHT. Rhumbline Advisers grew its stake in shares of 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 buying an additional 11,671 shares during the period. American Century Companies Inc. grew its stake in shares of Sight Sciences by 31.1% during the 2nd quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock valued at $240,000 after buying an additional 8,527 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in shares of Sight Sciences during the 2nd quarter valued at $95,000. Long Focus Capital Management LLC grew its stake in shares of Sight Sciences by 86.9% during the 2nd quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock valued at $3,739,000 after buying an additional 260,594 shares during the period. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Sight Sciences during the 2nd quarter valued at $1,234,000. 55.51% of the stock is owned by hedge funds and other institutional investors.

Sight Sciences Stock Performance

NASDAQ SGHT opened at $3.05 on Friday. 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 52-week low of $2.67 and a 52-week high of $8.45. The business’s 50-day moving average price is $3.49 and its 200 day moving average price is $5.20. The firm has a market cap of $154.82 million, a P/E ratio of -2.99 and a beta of 2.57.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01. The firm had revenue of $20.16 million during the quarter, compared to the consensus estimate of $20.41 million. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. On average, equities research analysts expect that Sight Sciences will post -1.01 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.