Sight Sciences (NASDAQ:SGHT) Cut to Hold at Lake Street Capital

Lake Street Capital downgraded shares of Sight Sciences (NASDAQ:SGHT) from a buy rating to a hold rating in a research report released on Monday morning, MarketBeat.com reports. Lake Street Capital currently has $5.00 price objective on the stock, down from their previous price objective of $10.00.

Several other research analysts have also weighed in on the stock. Citigroup increased their price objective 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. 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 research note on Monday, July 15th. Finally, Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Sight Sciences currently has an average rating of “Hold” and an average target price of $6.00.

Sight Sciences Stock Performance

NASDAQ SGHT opened at $5.10 on Monday. The business’s 50-day moving average price is $6.06 and its 200 day moving average price is $6.27. The company has a current ratio of 11.01, a quick ratio of 10.50 and a debt-to-equity ratio of 0.33. Sight Sciences has a twelve month low of $1.58 and a twelve month high of $8.45. The company has a market capitalization of $256.58 million, a PE ratio of -4.77 and a beta of 2.74.

Insider Buying and Selling at Sight Sciences

In other news, insider Jeremy B. Hayden sold 4,878 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $6.08, for a total value of $29,658.24. Following the completion of the sale, the insider now owns 158,687 shares of the company’s stock, valued at $964,816.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jeremy B. Hayden sold 4,878 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $6.08, for a total value of $29,658.24. Following the completion of the transaction, the insider now directly owns 158,687 shares in the company, valued at approximately $964,816.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew Link sold 21,831 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $5.61, for a total value of $122,471.91. Following the transaction, the insider now directly owns 663,550 shares in the company, valued at approximately $3,722,515.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,357 shares of company stock valued at $574,666 over the last three months. 28.90% of the stock is owned by company insiders.

Institutional Trading of Sight Sciences

A number of institutional investors and hedge funds have recently modified their holdings of SGHT. American Century Companies Inc. boosted its holdings in shares of Sight Sciences by 31.1% in 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. Mirae Asset Global Investments Co. Ltd. boosted its stake in Sight Sciences by 51.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock valued at $141,000 after acquiring an additional 9,106 shares during the period. Steele Capital Management Inc. bought a new position in shares of Sight Sciences during the second quarter valued at approximately $67,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Sight Sciences during the 1st quarter worth approximately $59,000. Finally, Rhumbline Advisers lifted its holdings in shares of Sight Sciences by 40.1% in the 2nd quarter. Rhumbline Advisers now owns 40,811 shares of the company’s stock worth $272,000 after purchasing an additional 11,671 shares during the last quarter. 55.51% of the stock is owned by institutional investors and hedge funds.

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.