Sight Sciences (NASDAQ:SGHT) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Sight Sciences (NASDAQ:SGHT) in a research report released on Friday, Benzinga reports.

Sight Sciences Trading Down 2.3 %

Sight Sciences stock opened at $5.82 on Friday. Sight Sciences has a 12 month low of $1.04 and a 12 month high of $10.97. The stock has a fifty day simple moving average of $5.11 and a two-hundred day simple moving average of $4.19. The company has a debt-to-equity ratio of 0.26, a current ratio of 13.29 and a quick ratio of 12.65.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.13. The company had revenue of $18.75 million during the quarter, compared to the consensus estimate of $18.70 million. Sight Sciences had a negative return on equity of 42.84% and a negative net margin of 67.18%. During the same period last year, the company earned ($0.35) EPS. As a group, analysts expect that Sight Sciences will post -1.04 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Alison Bauerlein sold 10,123 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $5.08, for a total transaction of $51,424.84. Following the transaction, the chief financial officer now directly owns 426,248 shares of the company’s stock, valued at approximately $2,165,339.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Paul Badawi sold 12,571 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $5.08, for a total value of $63,860.68. Following the completion of the transaction, the chief executive officer now owns 5,750,729 shares of the company’s stock, valued at $29,213,703.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Alison Bauerlein sold 10,123 shares of Sight Sciences stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $5.08, for a total value of $51,424.84. Following the sale, the chief financial officer now directly owns 426,248 shares in the company, valued at approximately $2,165,339.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,129 shares of company stock valued at $173,375. Company insiders own 27.10% of the company’s stock.

Institutional Investors Weigh In On Sight Sciences

A number of institutional investors have recently added to or reduced their stakes in SGHT. Tower Research Capital LLC TRC lifted its holdings in shares of Sight Sciences by 180.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,076 shares of the company’s stock worth $62,000 after buying an additional 7,764 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Sight Sciences by 51.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock valued at $141,000 after acquiring an additional 9,106 shares during the last quarter. Federated Hermes Inc. lifted its stake in Sight Sciences by 100.0% in the 3rd quarter. Federated Hermes Inc. now owns 60,000 shares of the company’s stock worth $202,000 after purchasing an additional 30,000 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Sight Sciences by 19.5% during the 3rd quarter. Swiss National Bank now owns 69,314 shares of the company’s stock valued at $234,000 after purchasing an additional 11,300 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in Sight Sciences by 198.1% during the fourth quarter. Panagora Asset Management Inc. now owns 59,190 shares of the company’s stock valued at $305,000 after buying an additional 39,333 shares during the last quarter. 55.51% of the stock is owned by hedge funds and other institutional investors.

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.