Sight Sciences (NASDAQ:SGHT) Sets New 1-Year High – Time to Buy?

Sight Sciences, Inc. (NASDAQ:SGHT)’s stock price reached a new 52-week high during trading on Wednesday. The company traded as high as $9.79 and last traded at $9.75, with a volume of 21,991 shares trading hands. The stock had previously closed at $9.42.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SGHT shares. Citigroup upped their price target on Sight Sciences from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Monday, October 5th. Wall Street Zen upgraded shares of Sight Sciences from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. UBS Group raised their price target on shares of Sight Sciences from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sight Sciences in a research report on Wednesday. Finally, Piper Sandler restated an “overweight” rating and issued a $12.00 price target (up from $9.00) on shares of Sight Sciences in a research note on Thursday. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Sight Sciences currently has a consensus rating of “Moderate Buy” and an average target price of $9.62.

Sight Sciences Trading Down 2.7%

The business’s fifty day moving average price is $8.68 and its 200 day moving average price is $6.07. The company has a debt-to-equity ratio of 0.58, a current ratio of 4.95 and a quick ratio of 4.67. The company has a market cap of $523.17 million, a price-to-earnings ratio of -18.25 and a beta of 2.44.

Sight Sciences (NASDAQ:SGHT) last released its earnings results on Wednesday, November 4th. The company reported ($0.12) EPS for the quarter, hitting the consensus estimate of ($0.12). The business had revenue of $24.92 million during the quarter, compared to analysts’ expectations of $23.55 million. Sight Sciences had a negative return on equity of 42.41% and a negative net margin of 32.13%. Research analysts anticipate that Sight Sciences, Inc. will post -0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Paul Badawi sold 29,653 shares of Sight Sciences stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $9.05, for a total transaction of $268,359.65. Following the sale, the chief executive officer directly owned 6,092,819 shares in the company, valued at approximately $55,140,011.95. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO James Rodberg sold 7,208 shares of the stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $8.85, for a total transaction of $63,790.80. Following the transaction, the chief financial officer owned 216,829 shares of the company’s stock, valued at approximately $1,918,936.65. The trade was a 3.22% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 47,646 shares of company stock valued at $429,157. 30.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Conquis Financial LLC bought a new stake in Sight Sciences in the 2nd quarter worth approximately $27,000. The Manufacturers Life Insurance Company bought a new position in shares of Sight Sciences in the 2nd quarter worth approximately $60,000. R Squared Ltd boosted its holdings in shares of Sight Sciences by 20.7% during the 3rd quarter. R Squared Ltd now owns 19,759 shares of the company’s stock valued at $185,000 after buying an additional 3,388 shares in the last quarter. Ieq Capital LLC bought a new position in shares of Sight Sciences during the second quarter valued at approximately $135,000. Finally, Algert Global LLC grew its stake in shares of Sight Sciences by 25.3% in the second quarter. Algert Global LLC now owns 28,266 shares of the company’s stock worth $153,000 after acquiring an additional 5,706 shares during the last quarter. 55.51% of the stock is owned by institutional investors.

Sight Sciences Company Profile

Sight Sciences, Inc is an ophthalmic medical technology company focused on developing and commercializing products designed to address the underlying causes of certain eye diseases. The company’s portfolio is centered on minimally invasive and non-invasive procedures intended to improve patient outcomes while supporting physicians in the treatment of glaucoma and ocular surface disease.

Its primary products include the OMNI Surgical System, a minimally invasive glaucoma surgery device used to reduce intraocular pressure by improving the eye’s natural fluid outflow pathways, and the TearCare System, a thermal pulsation technology designed to treat meibomian gland dysfunction, a common cause of evaporative dry eye disease.