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

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have been assigned an average rating of “Hold” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $8.3125.

Several research firms recently issued reports on SGHT. UBS Group dropped their price target on shares of Sight Sciences from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, March 6th. Cantor Fitzgerald set a $8.00 price objective on Sight Sciences in a report on Monday, March 2nd. William Blair reiterated an “outperform” rating on shares of Sight Sciences in a research note on Thursday, March 5th. Stifel Nicolaus increased their target price on Sight Sciences from $6.00 to $8.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Sight Sciences in a research report on Monday, December 29th.

Insider Buying and Selling

In other news, CFO James Rodberg sold 4,405 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $7.82, for a total value of $34,447.10. Following the sale, the chief financial officer owned 154,440 shares of the company’s stock, valued at approximately $1,207,720.80. This represents a 2.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeremy B. Hayden sold 9,385 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $7.82, for a total transaction of $73,390.70. Following the sale, the insider owned 247,205 shares of the company’s stock, valued at $1,933,143.10. This trade represents a 3.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 99,796 shares of company stock valued at $719,722. 30.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Sight Sciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its holdings in shares of Sight Sciences by 99.8% during the third quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock worth $26,000 after buying an additional 3,785 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Sight Sciences by 32.7% in the second quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock valued at $48,000 after acquiring an additional 2,875 shares during the last quarter. R Squared Ltd acquired a new position in shares of Sight Sciences in the 3rd quarter worth approximately $64,000. XTX Topco Ltd bought a new stake in Sight Sciences during the 2nd quarter worth approximately $67,000. Finally, O Shaughnessy Asset Management LLC acquired a new stake in Sight Sciences during the 4th quarter valued at $81,000. 55.51% of the stock is currently owned by institutional investors and hedge funds.

Sight Sciences Price Performance

Shares of SGHT stock opened at $4.04 on Thursday. Sight Sciences has a 12 month low of $2.03 and a 12 month high of $9.24. The company has a market capitalization of $218.20 million, a P/E ratio of -5.39 and a beta of 2.43. The stock has a 50 day moving average of $5.20 and a two-hundred day moving average of $5.73. The company has a current ratio of 10.22, a quick ratio of 9.52 and a debt-to-equity ratio of 0.63.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings data on Wednesday, March 4th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.07. The business had revenue of $20.39 million for the quarter, compared to analysts’ expectations of $20.35 million. Sight Sciences had a negative return on equity of 55.72% and a negative net margin of 49.67%. As a group, equities analysts expect that Sight Sciences will post -0.99 EPS for the current year.

About Sight Sciences

Sight Sciences, Inc is a medical device company focused on developing and commercializing minimally invasive treatments for chronic eye diseases. The company’s flagship products include the OMNI® Surgical System, designed to address multiple points of resistance in the eye’s natural drainage pathways to lower intraocular pressure in glaucoma patients, and the TearCare® System, a wearable device for treating meibomian gland dysfunction and dry eye disease through targeted thermal pulsation therapy.

Since its founding in 2012 and subsequent listing on the NASDAQ under the ticker SGHT, Sight Sciences has pursued a strategy of combining research-driven product development with a direct sales force model.