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

Sight Sciences, Inc. (NASDAQ:SGHT) has been assigned an average rating of “Hold” from the nine analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $8.3125.

Several research firms have commented on SGHT. Stifel Nicolaus boosted 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. Cantor Fitzgerald set a $8.00 price target on Sight Sciences in a report on Monday, March 2nd. Piper Sandler set a $9.00 price target on Sight Sciences in a research report on Monday, January 5th. Citigroup dropped their price target on shares of Sight Sciences from $9.10 to $6.50 and set a “neutral” rating on the stock in a research note on Friday, March 6th. Finally, Raymond James Financial set a $9.00 price objective on shares of Sight Sciences in a research report on Monday, January 5th.

Sight Sciences Price Performance

Shares of NASDAQ SGHT opened at $3.66 on Thursday. The company has a 50 day simple moving average of $4.93 and a two-hundred day simple moving average of $5.74. Sight Sciences has a fifty-two week low of $2.03 and a fifty-two week high of $9.24. The company has a market capitalization of $197.68 million, a price-to-earnings ratio of -4.88 and a beta of 2.50. The company has a debt-to-equity ratio of 0.63, a quick ratio of 9.52 and a current ratio of 10.22.

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

Insider Activity

In related news, CEO Paul Badawi sold 25,356 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $7.43, for a total transaction of $188,395.08. Following the completion of the sale, the chief executive officer owned 5,937,146 shares of the company’s stock, valued at $44,112,994.78. This trade represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO David Badawi sold 4,836 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $6.62, for a total transaction of $32,014.32. Following the completion of the transaction, the chief technology officer owned 1,912,273 shares of the company’s stock, valued at approximately $12,659,247.26. The trade was a 0.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 99,796 shares of company stock worth $719,722. Corporate insiders own 30.90% of the company’s stock.

Institutional Trading of Sight Sciences

Several institutional investors have recently added to or reduced their stakes in SGHT. Integral Health Asset Management LLC bought a new stake in shares of Sight Sciences in the 4th quarter worth $3,370,000. Americana Partners LLC increased 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 worth $4,231,000 after buying an additional 365,901 shares in the last quarter. Invesco Ltd. bought a new stake in Sight Sciences in the 4th quarter worth about $2,791,000. Walleye Capital LLC purchased a new position in Sight Sciences in the 4th quarter worth about $2,332,000. Finally, Informed Momentum Co LLC purchased a new position in Sight Sciences in the 4th quarter worth about $1,299,000. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

Sight Sciences Company Profile

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.