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

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have earned an average rating of “Hold” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $4.62.

A number of equities research analysts have recently issued reports on SGHT shares. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research report on Tuesday, January 14th. Piper Sandler restated a “neutral” rating and issued a $5.50 price target (down from $6.00) on shares of Sight Sciences in a research report on Friday, November 8th. Morgan Stanley decreased their price objective on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Lake Street Capital decreased their price objective on Sight Sciences from $5.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, January 15th. Finally, Citigroup decreased their price objective on Sight Sciences from $5.80 to $4.60 and set a “neutral” rating on the stock in a report on Wednesday, December 11th.

Sight Sciences Stock Performance

NASDAQ SGHT opened at $3.05 on Friday. Sight Sciences has a twelve month low of $2.67 and a twelve month high of $8.45. The stock has a 50-day moving average of $3.49 and a 200 day moving average of $5.20. 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 stock has a market capitalization of $154.82 million, a price-to-earnings ratio of -2.99 and a beta of 2.57.

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

Insider Activity

In other news, CEO Paul Badawi sold 12,236 shares of the stock in a transaction 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 approximately $20,567,509.20. This trade represents a 0.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have purchased 15,000 shares of company stock worth $58,232 and have sold 63,014 shares worth $197,295. Insiders own 28.90% of the company’s stock.

Hedge Funds Weigh In On Sight Sciences

Several large investors have recently bought and sold shares of the business. KCK LTD. purchased a new position in Sight Sciences in the fourth quarter valued at $15,925,000. Geode Capital Management LLC grew its holdings in shares of Sight Sciences by 1.6% during the third quarter. Geode Capital Management LLC now owns 784,129 shares of the company’s stock worth $4,941,000 after purchasing an additional 12,709 shares during the last quarter. State Street Corp grew its holdings in shares of Sight Sciences by 17.4% during the third quarter. State Street Corp now owns 646,776 shares of the company’s stock worth $4,075,000 after purchasing an additional 95,843 shares during the last quarter. Long Focus Capital Management LLC grew its holdings in shares of Sight Sciences by 86.9% during the second quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock worth $3,739,000 after purchasing an additional 260,594 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Sight Sciences by 46.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 207,893 shares of the company’s stock worth $1,310,000 after purchasing an additional 65,767 shares during the last quarter. Hedge funds and other institutional investors 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.