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 Tuesday,Benzinga reports.

Other analysts have also recently issued reports about the company. Citigroup cut their price objective on Sight Sciences from $5.80 to $4.60 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Morgan Stanley reduced their price objective on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. UBS Group started coverage on shares of Sight Sciences in a research note on Friday, December 6th. They set a “buy” rating and a $5.50 target price for the company. Lake Street Capital downgraded shares of Sight Sciences from a “buy” rating to a “hold” rating and reduced their target price for the stock from $10.00 to $5.00 in a report on Monday, November 4th. Finally, Piper Sandler reissued a “neutral” rating and issued a $5.50 price target (down from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $4.72.

Sight Sciences Stock Performance

NASDAQ SGHT opened at $2.84 on Tuesday. The firm has a market capitalization of $144.16 million, a P/E ratio of -2.78 and a beta of 2.57. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average price is $3.72 and its two-hundred day moving average price is $5.45. Sight Sciences has a 1 year low of $2.83 and a 1 year high of $8.45.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.01. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. The company had revenue of $20.16 million for the quarter, compared to analyst estimates of $20.41 million. As a group, research analysts anticipate that Sight Sciences will post -1.01 EPS for the current year.

Insider Buying and Selling at Sight Sciences

In other news, insider Matthew Link sold 21,831 shares of Sight Sciences stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $5.61, for a total value of $122,471.91. Following the completion of the sale, the insider now directly owns 663,550 shares in the company, valued at approximately $3,722,515.50. The trade was a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Paul Badawi sold 12,236 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $3.60, for a total value of $44,049.60. Following the sale, the chief executive officer now directly owns 5,713,197 shares in the company, valued at $20,567,509.20. This represents a 0.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders acquired 15,000 shares of company stock valued at $58,232 and sold 47,681 shares valued at $212,977. Insiders own 28.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SGHT. KCK LTD. bought a new position in Sight Sciences in the 4th quarter valued at about $15,925,000. Arkadios Wealth Advisors bought a new position in Sight Sciences in the fourth quarter valued at approximately $47,000. JPMorgan Chase & Co. raised its position in Sight Sciences by 335.3% during the third quarter. JPMorgan Chase & Co. now owns 69,660 shares of the company’s stock valued at $439,000 after purchasing an additional 53,658 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Sight Sciences by 5.4% during the third quarter. B. Riley Wealth Advisors Inc. now owns 195,082 shares of the company’s stock worth $1,174,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Sight Sciences by 317.4% in the 3rd quarter. Barclays PLC now owns 50,300 shares of the company’s stock valued at $317,000 after purchasing an additional 38,248 shares in the last quarter. Institutional investors and hedge funds own 55.51% of the company’s stock.

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.