Sight Sciences’ (SGHT) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Sight Sciences (NASDAQ:SGHT) in a report released on Friday morning, Benzinga reports.

Sight Sciences Trading Up 0.7 %

Shares of SGHT stock traded up $0.04 during trading hours on Friday, hitting $6.00. The company had a trading volume of 5,584 shares, compared to its average volume of 215,321. Sight Sciences has a 12 month low of $1.04 and a 12 month high of $10.97. The firm’s fifty day moving average is $5.11 and its 200 day moving average is $4.19. The company has a current ratio of 13.29, a quick ratio of 12.65 and a debt-to-equity ratio of 0.26.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.13. Sight Sciences had a negative return on equity of 42.84% and a negative net margin of 67.18%. The company had revenue of $18.75 million for the quarter, compared to analyst estimates of $18.70 million. During the same period in the prior year, the company posted ($0.35) EPS. As a group, equities research analysts forecast that Sight Sciences will post -1.04 EPS for the current year.

Insider Buying and Selling

In related news, CEO Paul Badawi sold 12,571 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $5.08, for a total transaction of $63,860.68. Following the sale, the chief executive officer now directly owns 5,750,729 shares in the company, valued at approximately $29,213,703.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Sight Sciences news, CEO Paul Badawi sold 12,571 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $5.08, for a total transaction of $63,860.68. Following the transaction, the chief executive officer now owns 5,750,729 shares of the company’s stock, valued at approximately $29,213,703.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Alison Bauerlein sold 10,123 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $5.08, for a total value of $51,424.84. Following the transaction, the chief financial officer now directly owns 426,248 shares in the company, valued at approximately $2,165,339.84. The disclosure for this sale can be found here. Insiders have sold a total of 34,129 shares of company stock worth $173,375 in the last three months. Insiders own 27.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. UBS Group AG raised its stake in Sight Sciences by 20,282.6% during the 4th quarter. UBS Group AG now owns 2,895,958 shares of the company’s stock worth $14,943,000 after buying an additional 2,881,750 shares during the period. First Eagle Investment Management LLC raised its stake in Sight Sciences by 45.6% during the 3rd quarter. First Eagle Investment Management LLC now owns 587,297 shares of the company’s stock worth $1,979,000 after buying an additional 183,912 shares during the period. Jackson Square Partners LLC raised its stake in Sight Sciences by 12.0% during the 4th quarter. Jackson Square Partners LLC now owns 1,629,746 shares of the company’s stock worth $8,409,000 after buying an additional 174,737 shares during the period. RTW Investments LP acquired a new stake in Sight Sciences during the 4th quarter worth $850,000. Finally, Panagora Asset Management Inc. raised its stake in Sight Sciences by 198.1% during the 4th quarter. Panagora Asset Management Inc. now owns 59,190 shares of the company’s stock worth $305,000 after buying an additional 39,333 shares during the period. Institutional investors and hedge funds own 55.51% of the company’s stock.

Sight Sciences Company Profile

Sight Sciences, Inc, an ophthalmic medical device company, engages in the development and commercialization of surgical and nonsurgical technologies for the treatment of eye diseases. It operates through two segments, Surgical Glaucoma and Dry Eye. The company's products include OMNI Surgical System, an implant-free glaucoma surgery technology indicated to reduce intraocular pressure in adult patients with primary open-angle glaucoma; and SION Surgical Instrument, a manually operated device used in ophthalmic surgical procedures to excise trabecular meshwork.