Sight Sciences (NASDAQ:SGHT) Reaches New 12-Month High – Should You Buy?

Sight Sciences, Inc. (NASDAQ:SGHT)’s stock price hit a new 52-week high during mid-day trading on Monday. The stock traded as high as $9.24 and last traded at $9.31, with a volume of 118705 shares. The stock had previously closed at $8.93.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SGHT. Citigroup reaffirmed a “neutral” rating on shares of Sight Sciences in a report on Thursday, August 13th. Wall Street Zen upgraded shares of Sight Sciences from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. UBS Group raised their price target on shares of Sight Sciences from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Sight Sciences in a research note on Friday, August 7th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $7.88.

Sight Sciences Stock Performance

The company has a current ratio of 4.95, a quick ratio of 4.67 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $509.53 million, a PE ratio of -16.52 and a beta of 2.50. The firm’s fifty day moving average price is $7.44 and its two-hundred day moving average price is $5.57.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.10. The firm had revenue of $23.39 million for the quarter, compared to the consensus estimate of $21.72 million. Sight Sciences had a negative net margin of 35.69% and a negative return on equity of 43.39%. As a group, equities research analysts forecast that Sight Sciences, Inc. will post -0.52 EPS for the current year.

Insider Activity

In other news, CEO Paul Badawi sold 28,684 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $5.42, for a total transaction of $155,467.28. Following the sale, the chief executive officer directly owned 6,122,472 shares in the company, valued at $33,183,798.24. This trade represents a 0.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO David Badawi sold 7,418 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $5.51, for a total value of $40,873.18. Following the sale, the chief technology officer owned 1,982,872 shares in the company, valued at $10,925,624.72. This trade represents a 0.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 58,566 shares of company stock worth $318,827. 30.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sight Sciences

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Sight Sciences in the second quarter valued at approximately $16,710,000. Dimensional Fund Advisors LP lifted its position in shares of Sight Sciences by 13.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 341,681 shares of the company’s stock valued at $1,288,000 after buying an additional 40,346 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Sight Sciences by 6.3% during the 1st quarter. Renaissance Technologies LLC now owns 293,358 shares of the company’s stock valued at $1,106,000 after buying an additional 17,458 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Sight Sciences in the 2nd quarter valued at $908,000. Finally, Bank of America Corp DE acquired a new stake in Sight Sciences in the 2nd quarter valued at $520,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

Sight Sciences Company Profile

Sight Sciences, Inc is a medical technology company focused on developing and commercializing treatments for common eye diseases. The company’s products are designed to address glaucoma and dry eye disease, with an emphasis on minimally invasive procedures and technologies intended for use by eye-care professionals.

Its glaucoma portfolio includes the OMNI Surgical System, a device used in minimally invasive glaucoma surgery to help reduce intraocular pressure by improving the eye’s natural fluid outflow pathways.