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

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $5.70.

A number of brokerages have commented on SGHT. Morgan Stanley increased their price objective on shares of Sight Sciences from $5.40 to $6.50 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Citigroup increased their price target on shares of Sight Sciences from $6.00 to $6.50 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research report on Friday, August 2nd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $6.00 price objective (up from $5.00) on shares of Sight Sciences in a research report on Friday, May 3rd.

Insider Buying and Selling at Sight Sciences

In other news, CEO Paul Badawi sold 12,569 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $6.42, for a total value of $80,692.98. Following the transaction, the chief executive officer now owns 5,738,160 shares of the company’s stock, valued at approximately $36,838,987.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Alison Bauerlein sold 10,497 shares of Sight Sciences stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $6.21, for a total transaction of $65,186.37. Following the transaction, the chief financial officer now owns 402,685 shares of the company’s stock, valued at approximately $2,500,673.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Paul Badawi sold 12,569 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $6.42, for a total transaction of $80,692.98. Following the completion of the transaction, the chief executive officer now directly owns 5,738,160 shares of the company’s stock, valued at approximately $36,838,987.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,774 shares of company stock valued at $219,243. 28.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Steele Capital Management Inc. acquired a new position in Sight Sciences during the 2nd quarter worth approximately $67,000. State Board of Administration of Florida Retirement System bought a new position in Sight Sciences in the first quarter valued at approximately $59,000. Tower Research Capital LLC TRC grew its stake in Sight Sciences by 180.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 12,076 shares of the company’s stock valued at $62,000 after purchasing an additional 7,764 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Sight Sciences during the 2nd quarter worth approximately $95,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Sight Sciences by 51.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock worth $141,000 after acquiring an additional 9,106 shares in the last quarter. 55.51% of the stock is currently owned by institutional investors.

Sight Sciences Stock Up 5.5 %

SGHT opened at $6.38 on Tuesday. The firm has a market cap of $317.44 million, a price-to-earnings ratio of -5.70 and a beta of 2.75. The company has a debt-to-equity ratio of 0.33, a quick ratio of 10.50 and a current ratio of 11.01. The firm’s 50-day simple moving average is $6.74 and its 200-day simple moving average is $5.75. Sight Sciences has a twelve month low of $1.04 and a twelve month high of $8.45.

Sight Sciences (NASDAQ:SGHT) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.06. Sight Sciences had a negative net margin of 65.90% and a negative return on equity of 45.68%. The firm had revenue of $21.37 million for the quarter, compared to analysts’ expectations of $21.32 million. During the same period in the prior year, the firm earned ($0.30) earnings per share. Equities research analysts anticipate that Sight Sciences will post -1 EPS for the current fiscal year.

About Sight Sciences

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.