Sight Sciences (NASDAQ:SGHT) Earns Neutral Rating from Piper Sandler

Piper Sandler restated their neutral rating on shares of Sight Sciences (NASDAQ:SGHT) in a report released on Friday morning,Benzinga reports. The firm currently has a $5.50 price objective on the stock, down from their prior price objective of $6.00.

A number of other equities analysts have also recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research report on Friday. Lake Street Capital lowered Sight Sciences from a “buy” rating to a “hold” rating and lowered their price objective for the company from $10.00 to $5.00 in a research note on Monday, November 4th. Finally, Morgan Stanley upped their target price on Sight Sciences from $5.40 to $6.50 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Sight Sciences presently has an average rating of “Hold” and a consensus target price of $5.88.

Sight Sciences Trading Down 9.6 %

Shares of NASDAQ SGHT traded down $0.45 during midday trading on Friday, hitting $4.23. The stock had a trading volume of 472,708 shares, compared to its average volume of 198,859. The company has a fifty day moving average price of $5.93 and a 200 day moving average price of $6.24. The company has a market capitalization of $212.81 million, a price-to-earnings ratio of -3.95 and a beta of 2.74. Sight Sciences has a 1-year low of $1.58 and a 1-year high of $8.45. The company has a quick ratio of 10.50, a current ratio of 11.01 and a debt-to-equity ratio of 0.33.

Sight Sciences (NASDAQ:SGHT) last issued its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.01. The company had revenue of $20.16 million during the quarter, compared to the consensus estimate of $20.41 million. Sight Sciences had a negative return on equity of 45.68% and a negative net margin of 65.90%. On average, analysts predict that Sight Sciences will post -1 earnings per share for the current year.

Insider Transactions at Sight Sciences

In related news, insider Matthew Link sold 21,831 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $5.61, for a total transaction of $122,471.91. Following the transaction, the insider now directly owns 663,550 shares in the company, valued at $3,722,515.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Matthew Link sold 21,831 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $5.61, for a total transaction of $122,471.91. Following the completion of the sale, the insider now owns 663,550 shares of the company’s stock, valued at $3,722,515.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul Badawi sold 12,727 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $5.99, for a total transaction of $76,234.73. Following the sale, the chief executive officer now owns 5,725,433 shares in the company, valued at approximately $34,295,343.67. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,357 shares of company stock worth $574,666. 28.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System acquired a new position in Sight Sciences during the 1st quarter valued at about $59,000. Steele Capital Management Inc. bought a new stake in shares of Sight Sciences during the second quarter valued at approximately $67,000. SG Americas Securities LLC bought a new stake in shares of Sight Sciences during the third quarter valued at approximately $75,000. The Manufacturers Life Insurance Company acquired a new position in shares of Sight Sciences during the second quarter worth approximately $95,000. Finally, GSA Capital Partners LLP bought a new position in Sight Sciences in the 3rd quarter worth approximately $136,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

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.