Sight Sciences (NASDAQ:SGHT) Raised to Hold at Wall Street Zen

Sight Sciences (NASDAQ:SGHT) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Several other brokerages have also weighed in on SGHT. Morgan Stanley upped their price objective on shares of Sight Sciences from $3.00 to $4.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Piper Sandler reiterated a “neutral” rating and set a $4.00 price objective (up previously from $3.50) on shares of Sight Sciences in a report on Wednesday, June 18th. Lake Street Capital upgraded shares of Sight Sciences from a “hold” rating to a “buy” rating and upped their price objective for the company from $3.00 to $5.00 in a report on Friday. Finally, Citigroup reiterated a “neutral” rating and set a $3.60 price objective (up previously from $3.20) on shares of Sight Sciences in a report on Thursday, May 22nd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.27.

Sight Sciences Price Performance

SGHT stock opened at $4.24 on Friday. The firm has a market cap of $219.21 million, a price-to-earnings ratio of -4.42 and a beta of 2.44. The company has a quick ratio of 9.49, a current ratio of 10.01 and a debt-to-equity ratio of 0.57. Sight Sciences has a 12-month low of $2.03 and a 12-month high of $7.05. The company’s fifty day simple moving average is $3.85 and its 200 day simple moving average is $3.17.

Sight Sciences (NASDAQ:SGHT) last released its earnings results on Thursday, August 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.02. Sight Sciences had a negative net margin of 64.23% and a negative return on equity of 59.38%. The business had revenue of $19.56 million for the quarter, compared to analyst estimates of $18.18 million. On average, analysts expect that Sight Sciences will post -0.99 earnings per share for the current year.

Insider Transactions at Sight Sciences

In related news, insider Jeremy B. Hayden sold 9,160 shares of the company’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $4.17, for a total value of $38,197.20. Following the sale, the insider owned 266,321 shares in the company, valued at $1,110,558.57. This represents a 3.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Paul Badawi sold 23,637 shares of the company’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $4.15, for a total transaction of $98,093.55. Following the completion of the sale, the chief executive officer owned 5,986,943 shares in the company, valued at $24,845,813.45. This represents a 0.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,365 shares of company stock worth $180,017 in the last 90 days. 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 made changes to their positions in SGHT. Intech Investment Management LLC grew its position in Sight Sciences by 26.2% in the 2nd quarter. Intech Investment Management LLC now owns 25,366 shares of the company’s stock worth $105,000 after purchasing an additional 5,261 shares in the last quarter. Geode Capital Management LLC grew its position in Sight Sciences by 5.5% in the 2nd quarter. Geode Capital Management LLC now owns 845,776 shares of the company’s stock worth $3,494,000 after purchasing an additional 43,791 shares in the last quarter. Americana Partners LLC bought a new stake in Sight Sciences in the 2nd quarter worth about $3,568,000. Bank of Montreal Can bought a new stake in Sight Sciences in the 2nd quarter worth about $49,000. Finally, CWM LLC grew its position in Sight Sciences by 70.2% in the 2nd quarter. CWM LLC now owns 7,607 shares of the company’s stock worth $31,000 after purchasing an additional 3,137 shares in the last quarter. Institutional investors and hedge funds own 55.51% of the company’s stock.

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.