Needham & Company LLC Reaffirms “Hold” Rating for Sight Sciences (NASDAQ:SGHT)

Sight Sciences (NASDAQ:SGHT)‘s stock had its “hold” rating reissued by Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports.

SGHT has been the subject of a number of other reports. Citigroup dropped their price target on Sight Sciences from $4.60 to $3.00 and set a “neutral” rating for the company in a report on Tuesday. Morgan Stanley lowered their target price on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Lake Street Capital cut their price target on Sight Sciences from $5.00 to $3.00 and set a “hold” rating for the company in a report on Wednesday, January 15th. UBS Group decreased their price objective on shares of Sight Sciences from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Finally, Stifel Nicolaus dropped their target price on shares of Sight Sciences from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Sight Sciences currently has an average rating of “Hold” and an average price target of $4.42.

Sight Sciences Stock Down 2.0 %

Shares of NASDAQ:SGHT opened at $2.42 on Thursday. The company has a market capitalization of $122.83 million, a PE ratio of -2.37 and a beta of 2.52. 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 company’s fifty day moving average is $2.95 and its 200-day moving average is $4.45. Sight Sciences has a 52 week low of $2.29 and a 52 week high of $8.45.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.01). The firm had revenue of $19.07 million during the quarter, compared to analyst estimates of $18.98 million. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. During the same quarter last year, the firm earned ($0.22) earnings per share. Equities research analysts predict that Sight Sciences will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Paul Badawi sold 12,236 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.60, for a total value of $44,049.60. Following the transaction, the chief executive officer now owns 5,713,197 shares of the company’s stock, valued at approximately $20,567,509.20. This trade represents a 0.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 63,014 shares of company stock worth $197,295 over the last three months. 28.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sight Sciences

A number of institutional investors and hedge funds have recently modified their holdings of SGHT. ProShare Advisors LLC bought a new stake in shares of Sight Sciences during the 4th quarter valued at $36,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Sight Sciences during the fourth quarter worth $40,000. Arkadios Wealth Advisors acquired a new position in shares of Sight Sciences in the 4th quarter valued at $47,000. WealthTrust Asset Management LLC bought a new stake in shares of Sight Sciences in the 4th quarter valued at $48,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Sight Sciences during the 4th quarter worth $50,000. 55.51% of the stock is owned by institutional investors.

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.