Sight Sciences, Inc. (NASDAQ:SGHT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $7.8750.

SGHT has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Sight Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sight Sciences in a research report on Friday, August 7th. UBS Group increased their target price on Sight Sciences from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Citigroup reissued a “neutral” rating on shares of Sight Sciences in a report on Thursday, August 13th.

Insiders Place Their Bets

In other Sight Sciences news, CTO David Badawi sold 7,418 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $5.51, for a total value of $40,873.18. Following the completion of the transaction, the chief technology officer owned 1,982,872 shares in the company, valued at approximately $10,925,624.72. This represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Paul Badawi sold 28,684 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $5.42, for a total value of $155,467.28. Following the completion of the transaction, the chief executive officer owned 6,122,472 shares of the company’s stock, valued at $33,183,798.24. The trade was a 0.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 58,566 shares of company stock worth $318,827. Insiders own 30.40% of the company’s stock.

Hedge Funds Weigh In On Sight Sciences

Large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its stake in shares of Sight Sciences by 99.8% in the third quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock valued at $26,000 after purchasing an additional 3,785 shares during the period. Conquis Financial LLC purchased a new stake in Sight Sciences during the second quarter worth about $27,000. Tower Research Capital LLC TRC grew its position in Sight Sciences by 32.7% during the second quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock worth $48,000 after buying an additional 2,875 shares during the period. Diversified Trust Co acquired a new position in Sight Sciences during the first quarter worth about $51,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Sight Sciences in the second quarter valued at about $60,000. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Sight Sciences Stock Up 0.5%

SGHT stock opened at $8.41 on Friday. Sight Sciences has a one year low of $3.19 and a one year high of $9.24. The stock has a market capitalization of $463.29 million, a PE ratio of -15.02 and a beta of 2.38. The company has a debt-to-equity ratio of 0.58, a quick ratio of 4.67 and a current ratio of 4.95. The company has a fifty day moving average of $6.20 and a 200-day moving average of $5.11.

Sight Sciences (NASDAQ:SGHT) last issued its earnings results on Wednesday, August 5th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.10. The business 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, analysts expect that Sight Sciences will post -0.52 EPS for the current year.

About Sight Sciences

Sight Sciences, Inc is a medical device company focused on developing and commercializing minimally invasive treatments for chronic eye diseases. The company’s flagship products include the OMNI® Surgical System, designed to address multiple points of resistance in the eye’s natural drainage pathways to lower intraocular pressure in glaucoma patients, and the TearCare® System, a wearable device for treating meibomian gland dysfunction and dry eye disease through targeted thermal pulsation therapy.

Since its founding in 2012 and subsequent listing on the NASDAQ under the ticker SGHT, Sight Sciences has pursued a strategy of combining research-driven product development with a direct sales force model.