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

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have earned a consensus rating of “Hold” from the six brokerages that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $5.12.

Several analysts have recently commented on SGHT shares. Citigroup reduced their price target on Sight Sciences from $5.80 to $4.60 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Piper Sandler reissued a “neutral” rating and issued a $5.50 target price (down previously from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. UBS Group started coverage on shares of Sight Sciences in a research report on Friday, December 6th. They set a “buy” rating and a $5.50 target price on the stock. Lake Street Capital downgraded shares of 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 report on Monday, November 4th. Finally, Morgan Stanley decreased their price objective on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th.

Sight Sciences Stock Down 2.5 %

Shares of Sight Sciences stock opened at $3.49 on Tuesday. Sight Sciences has a one year low of $3.30 and a one year high of $8.45. The company has a market cap of $177.13 million, a P/E ratio of -3.42 and a beta of 2.58. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18. The firm has a fifty day moving average of $4.01 and a two-hundred day moving average of $5.62.

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

Insider Transactions at Sight Sciences

In other Sight Sciences news, insider Matthew Link sold 21,831 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $5.61, for a total transaction of $122,471.91. Following the completion of the transaction, the insider now directly owns 663,550 shares in the company, valued at approximately $3,722,515.50. This trade represents a 3.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders bought 15,000 shares of company stock valued at $58,232 and sold 63,052 shares valued at $367,522. Corporate insiders own 28.90% of the company’s stock.

Institutional Trading of Sight Sciences

Several institutional investors and hedge funds have recently modified their holdings of SGHT. American Century Companies Inc. increased its stake in shares of Sight Sciences by 31.1% during the 2nd quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock worth $240,000 after purchasing an additional 8,527 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in Sight Sciences by 5.4% during the third quarter. B. Riley Wealth Advisors Inc. now owns 195,082 shares of the company’s stock worth $1,174,000 after buying an additional 10,000 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Sight Sciences by 40.1% in the second quarter. Rhumbline Advisers now owns 40,811 shares of the company’s stock worth $272,000 after acquiring an additional 11,671 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Sight Sciences in the third quarter valued at $75,000. Finally, Geode Capital Management LLC boosted its stake in shares of Sight Sciences by 1.6% during the third quarter. Geode Capital Management LLC now owns 784,129 shares of the company’s stock valued at $4,941,000 after acquiring an additional 12,709 shares during the last quarter. Hedge funds and other institutional investors own 55.51% of the company’s stock.

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.