Sight Sciences, Inc. (NASDAQ:SGHT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have earned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $7.8750.

A number of brokerages have commented on SGHT. UBS Group increased their target price on Sight Sciences from $7.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Sight Sciences in a report on Friday, August 7th. Citigroup restated a “neutral” rating on shares of Sight Sciences in a research report on Thursday, August 13th. Finally, Wall Street Zen raised Sight Sciences from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th.

Sight Sciences Stock Performance

Shares of SGHT opened at $8.50 on Thursday. The company has a current ratio of 4.95, a quick ratio of 4.67 and a debt-to-equity ratio of 0.58. The stock has a market cap of $468.26 million, a P/E ratio of -15.18 and a beta of 2.50. The company has a 50-day moving average of $7.29 and a two-hundred day moving average of $5.51. Sight Sciences has a 12-month low of $3.19 and a 12-month high of $9.24.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate 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 business had revenue of $23.39 million for the quarter, compared to analyst estimates of $21.72 million. As a group, research analysts predict that Sight Sciences will post -0.52 EPS for the current fiscal year.

Insider Activity

In other news, insider Jeremy Hayden sold 12,733 shares of Sight Sciences stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $5.51, for a total transaction of $70,158.83. Following the completion of the sale, the insider directly owned 357,037 shares in the company, valued at $1,967,273.87. The trade was a 3.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO James Rodberg sold 6,902 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $5.36, for a total transaction of $36,994.72. Following the completion of the transaction, the chief financial officer directly owned 224,037 shares of the company’s stock, valued at approximately $1,200,838.32. This represents a 2.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 58,566 shares of company stock valued at $318,827 over the last quarter. 30.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sight Sciences

Several hedge funds have recently made changes to their positions in SGHT. Conquis Financial LLC purchased a new position in Sight Sciences during the second quarter worth about $27,000. WealthTrust Asset Management LLC increased its position in Sight Sciences by 14.1% during the first quarter. WealthTrust Asset Management LLC now owns 44,635 shares of the company’s stock worth $168,000 after purchasing an additional 5,529 shares during the last quarter. Algert Global LLC increased its holdings in shares of Sight Sciences by 25.3% during the 2nd quarter. Algert Global LLC now owns 28,266 shares of the company’s stock worth $153,000 after buying an additional 5,706 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Sight Sciences by 21.6% in the second quarter. Hsbc Holdings PLC now owns 46,707 shares of the company’s stock valued at $255,000 after buying an additional 8,297 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Sight Sciences in the second quarter worth $60,000. Institutional investors and hedge funds own 55.51% of the company’s stock.

About Sight Sciences

Sight Sciences, Inc is a medical technology company focused on developing and commercializing treatments for common eye diseases. The company’s products are designed to address glaucoma and dry eye disease, with an emphasis on minimally invasive procedures and technologies intended for use by eye-care professionals.

Its glaucoma portfolio includes the OMNI Surgical System, a device used in minimally invasive glaucoma surgery to help reduce intraocular pressure by improving the eye’s natural fluid outflow pathways.