Sight Sciences (NASDAQ:SGHT) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of Sight Sciences (NASDAQ:SGHT) from a buy rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

SGHT has been the subject of several other reports. Piper Sandler restated an “overweight” rating and set a $12.00 price objective (up from $9.00) on shares of Sight Sciences in a research report on Thursday, November 5th. UBS Group lifted their target price on Sight Sciences from $8.00 to $13.50 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sight Sciences in a research report on Wednesday, November 4th. Citigroup boosted their target price on Sight Sciences from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Monday, October 5th. Finally, HC Wainwright began coverage on shares of Sight Sciences in a report on Thursday, October 15th. They issued a “buy” rating and a $14.00 target price for the company. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.31.

Sight Sciences Price Performance

Shares of NASDAQ SGHT traded down $0.16 during trading hours on Friday, hitting $10.83. 223,729 shares of the stock were exchanged, compared to its average volume of 408,244. The company has a debt-to-equity ratio of 0.71, a quick ratio of 4.72 and a current ratio of 5.04. The company has a market cap of $601.93 million, a PE ratio of -20.83 and a beta of 2.44. The company’s fifty day simple moving average is $8.97 and its two-hundred day simple moving average is $6.20. Sight Sciences has a 1-year low of $3.38 and a 1-year high of $11.60.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). Sight Sciences had a negative net margin of 32.13% and a negative return on equity of 43.91%. The business had revenue of $24.92 million for the quarter, compared to analysts’ expectations of $23.55 million. On average, sell-side analysts predict that Sight Sciences will post -0.48 EPS for the current year.

Insider Activity at Sight Sciences

In other Sight Sciences news, CEO Paul Badawi sold 29,653 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $9.05, for a total transaction of $268,359.65. Following the sale, the chief executive officer owned 6,092,819 shares of the company’s stock, valued at approximately $55,140,011.95. The trade was a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO James Rodberg sold 7,208 shares of the company’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $8.85, for a total transaction of $63,790.80. Following the transaction, the chief financial officer owned 216,829 shares of the company’s stock, valued at $1,918,936.65. This trade represents a 3.22% 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 sold 47,646 shares of company stock worth $429,157. Corporate insiders own 30.40% of the company’s stock.

Institutional Trading of Sight Sciences

Hedge funds have recently made changes to their positions in the company. Pathstone Holdings LLC increased its stake in shares of Sight Sciences by 30.2% in the third quarter. Pathstone Holdings LLC now owns 2,186,524 shares of the company’s stock valued at $20,466,000 after buying an additional 507,544 shares during the period. Empowered Funds LLC acquired a new stake in Sight Sciences during the 3rd quarter worth approximately $618,000. Palumbo Wealth Management LLC boosted its position in Sight Sciences by 3.8% during the 3rd quarter. Palumbo Wealth Management LLC now owns 133,394 shares of the company’s stock worth $1,249,000 after buying an additional 4,858 shares during the period. Ieq Capital LLC boosted its position in Sight Sciences by 7.3% during the 3rd quarter. Ieq Capital LLC now owns 26,635 shares of the company’s stock worth $249,000 after buying an additional 1,803 shares during the period. Finally, Royce & Associates LP bought a new stake in Sight Sciences during the 3rd quarter worth approximately $1,676,000. 55.51% of the stock is owned by institutional investors and hedge funds.

Sight Sciences Company Profile

Sight Sciences is a medical technology company that develops and commercializes devices for ophthalmic care, with a focus on glaucoma and dry eye disease. Its products are designed to support minimally invasive procedures and address underlying causes of these conditions. The company’s portfolio includes the OMNI Surgical System, used in procedures to reduce eye pressure in patients with glaucoma, and TearCare, a device-based treatment for evaporative dry eye associated with meibomian gland dysfunction.