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

Sight Sciences (NASDAQ:SGHT) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other research firms also recently commented on SGHT. UBS Group upped their price objective on Sight Sciences from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday. Weiss Ratings downgraded Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. Finally, Citigroup boosted their target price on Sight Sciences from $5.15 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Sight Sciences presently has an average rating of “Hold” and a consensus price target of $7.88.

Sight Sciences Stock Performance

Shares of SGHT stock opened at $7.47 on Friday. The firm has a market cap of $411.52 million, a price-to-earnings ratio of -13.34 and a beta of 2.38. The company has a debt-to-equity ratio of 0.58, a quick ratio of 4.67 and a current ratio of 4.95. Sight Sciences has a 52 week low of $3.19 and a 52 week high of $9.24. The firm’s 50-day simple moving average is $5.24 and its two-hundred day simple moving average is $4.91.

Sight Sciences (NASDAQ:SGHT) last released its earnings results on Wednesday, August 5th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.10. Sight Sciences had a negative net margin of 35.69% and a negative return on equity of 43.39%. The firm had revenue of $23.39 million for the quarter, compared to analysts’ expectations of $21.72 million. As a group, equities analysts forecast that Sight Sciences will post -0.56 earnings per share for the current year.

Insider Buying and Selling at Sight Sciences

In other Sight Sciences news, CTO David Badawi sold 7,418 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $5.51, for a total transaction of $40,873.18. Following the sale, the chief technology officer owned 1,982,872 shares of the company’s stock, valued at $10,925,624.72. The trade was a 0.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO James Rodberg sold 6,902 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $5.36, for a total value of $36,994.72. Following the sale, the chief financial officer owned 224,037 shares in the company, valued at approximately $1,200,838.32. This represents a 2.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 58,566 shares of company stock valued at $318,827 in the last quarter. Corporate insiders own 30.40% of the company’s stock.

Hedge Funds Weigh In On Sight Sciences

Large investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Sight Sciences during the 2nd quarter valued at $16,710,000. Integral Health Asset Management LLC bought a new position in Sight Sciences in the 4th quarter worth about $3,370,000. Invesco Ltd. purchased a new position in Sight Sciences during the 4th quarter valued at about $2,791,000. Walleye Capital LLC purchased a new position in Sight Sciences during the 4th quarter valued at about $2,332,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Sight Sciences during the second quarter valued at about $908,000. 55.51% of the stock is owned by institutional investors.

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.