Sight Sciences, Inc. (NASDAQ:SGHT) Receives Consensus Rating of “Hold” from Brokerages

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have earned an average recommendation of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $6.35.

A number of equities research analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Sight Sciences from $5.50 to $9.10 and gave the company a “neutral” rating in a report on Thursday. Piper Sandler raised their price target on Sight Sciences from $4.00 to $5.00 and gave the company a “neutral” rating in a research note on Friday, November 7th. Morgan Stanley lifted their price target on Sight Sciences from $6.00 to $8.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a research report on Thursday, August 28th. Finally, Lake Street Capital increased their price objective on Sight Sciences from $5.00 to $7.00 and gave the company a “buy” rating in a report on Tuesday, October 21st.

Insider Buying and Selling at Sight Sciences

In other Sight Sciences news, insider Jeremy B. Hayden sold 44,850 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $8.08, for a total transaction of $362,388.00. Following the sale, the insider owned 256,590 shares of the company’s stock, valued at approximately $2,073,247.20. This trade represents a 14.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paul Badawi sold 24,441 shares of Sight Sciences stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $3.34, for a total transaction of $81,632.94. Following the sale, the chief executive officer owned 5,962,502 shares in the company, valued at $19,914,756.68. This represents a 0.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 103,214 shares of company stock worth $624,583 over the last three months. Insiders own 28.90% of the company’s stock.

Institutional Investors Weigh In On Sight Sciences

Institutional investors and hedge funds have recently made changes to their positions in the business. KCK LTD. purchased a new stake in shares of Sight Sciences during the second quarter worth approximately $18,069,000. Long Focus Capital Management LLC boosted its stake in shares of Sight Sciences by 1.3% during the third quarter. Long Focus Capital Management LLC now owns 3,193,305 shares of the company’s stock valued at $10,985,000 after acquiring an additional 41,797 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Sight Sciences by 5.7% in the third quarter. Vanguard Group Inc. now owns 1,906,696 shares of the company’s stock valued at $6,559,000 after buying an additional 102,609 shares during the last quarter. Americana Partners LLC raised its holdings in Sight Sciences by 42.4% in the 3rd quarter. Americana Partners LLC now owns 1,229,819 shares of the company’s stock valued at $4,231,000 after acquiring an additional 365,901 shares during the last quarter. Finally, B Group Inc. lifted its stake in shares of Sight Sciences by 11.6% during the 2nd quarter. B Group Inc. now owns 930,000 shares of the company’s stock worth $3,841,000 after purchasing an additional 96,400 shares during the period. 55.51% of the stock is owned by hedge funds and other institutional investors.

Sight Sciences Stock Performance

NASDAQ SGHT opened at $8.31 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 9.60 and a quick ratio of 8.93. Sight Sciences has a 1-year low of $2.03 and a 1-year high of $8.80. The company has a market cap of $439.35 million, a P/E ratio of -9.23 and a beta of 2.41. The stock has a 50-day moving average of $6.23 and a two-hundred day moving average of $4.67.

Sight Sciences (NASDAQ:SGHT) last posted its quarterly earnings data on Wednesday, September 8th. The company reported ($0.81) earnings per share for the quarter. The company had revenue of $12.54 million for the quarter. Sight Sciences had a negative return on equity of 61.59% and a negative net margin of 60.63%. As a group, analysts anticipate that Sight Sciences will post -0.99 EPS for the current year.

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.