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

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have received a consensus recommendation of “Hold” from the six ratings firms that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $5.12.

A number of equities research analysts have recently weighed in on SGHT shares. UBS Group assumed coverage on shares of Sight Sciences in a report on Friday, December 6th. They issued a “buy” rating and a $5.50 price objective on the stock. Lake Street Capital cut Sight Sciences from a “buy” rating to a “hold” rating and cut their price target for the company from $10.00 to $5.00 in a research note on Monday, November 4th. Citigroup lowered their price objective on Sight Sciences from $5.80 to $4.60 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research report on Friday, November 8th. Finally, Morgan Stanley lowered their price target on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Monday, November 11th.

Insider Buying and Selling

In other news, 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 completion of the sale, the insider now directly owns 663,550 shares of the company’s stock, valued at approximately $3,722,515.50. This represents a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have bought 15,000 shares of company stock worth $58,232 and have sold 63,052 shares worth $367,522. 28.90% of the stock is currently owned by company insiders.

Institutional Trading of Sight Sciences

Institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in Sight Sciences during the 3rd quarter worth $75,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Sight Sciences during the second quarter worth about $95,000. GSA Capital Partners LLP purchased a new position in shares of Sight Sciences during the third quarter worth about $136,000. American Century Companies Inc. increased its position in 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 acquiring an additional 8,527 shares during the period. 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 acquiring an additional 11,671 shares during the last quarter. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Sight Sciences Price Performance

Shares of NASDAQ SGHT opened at $3.49 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.18 and a quick ratio of 9.74. The company has a market cap of $177.13 million, a price-to-earnings ratio of -3.42 and a beta of 2.58. The stock’s 50-day moving average is $4.01 and its two-hundred day moving average is $5.62. Sight Sciences has a 1-year low of $3.30 and a 1-year high of $8.45.

Sight Sciences (NASDAQ:SGHT) last released its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. The firm had revenue of $20.16 million for the quarter, compared to analyst estimates of $20.41 million. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. Analysts forecast that Sight Sciences will post -1.01 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.