Needham & Company LLC Reaffirms “Hold” Rating for Sight Sciences (NASDAQ:SGHT)

Sight Sciences (NASDAQ:SGHT)‘s stock had its “hold” rating restated by investment analysts at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports.

A number of other analysts have also recently issued reports on the company. UBS Group started coverage on 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 cut shares of Sight Sciences from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $10.00 to $5.00 in a research note on Monday, November 4th. Morgan Stanley decreased their target price on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Piper Sandler reiterated a “neutral” rating and issued a $5.50 price target (down from $6.00) on shares of Sight Sciences in a research note on Friday, November 8th. Finally, Citigroup lowered their price objective on Sight Sciences from $5.80 to $4.60 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Sight Sciences has an average rating of “Hold” and an average target price of $5.12.

Sight Sciences Trading Up 0.9 %

NASDAQ SGHT traded up $0.03 on Tuesday, reaching $3.27. The company had a trading volume of 31,049 shares, compared to its average volume of 202,708. The company has a quick ratio of 9.74, a current ratio of 10.18 and a debt-to-equity ratio of 0.36. Sight Sciences has a 52 week low of $3.15 and a 52 week high of $8.45. The stock has a market cap of $165.97 million, a price-to-earnings ratio of -3.21 and a beta of 2.57. The stock’s 50 day moving average is $3.79 and its 200-day moving average is $5.49.

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

Insider Activity at Sight Sciences

In other news, CEO Paul Badawi sold 12,236 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $3.60, for a total value of $44,049.60. Following the transaction, the chief executive officer now owns 5,713,197 shares in the company, valued at approximately $20,567,509.20. The trade was a 0.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew Link sold 21,831 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $5.61, for a total transaction of $122,471.91. Following the sale, the insider now owns 663,550 shares of the company’s stock, valued at approximately $3,722,515.50. This trade represents a 3.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders acquired 15,000 shares of company stock worth $58,232 and sold 88,902 shares worth $458,027. 28.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sight Sciences

A number of large investors have recently bought and sold shares of SGHT. SG Americas Securities LLC acquired a new stake in Sight Sciences in the third quarter valued at approximately $75,000. The Manufacturers Life Insurance Company bought a new stake in Sight Sciences during the 2nd quarter valued at $95,000. GSA Capital Partners LLP acquired a new position in Sight Sciences during the third quarter worth $136,000. American Century Companies Inc. raised its position in Sight Sciences by 31.1% in the 2nd quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock valued at $240,000 after buying an additional 8,527 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Sight Sciences by 40.1% during the second quarter. Rhumbline Advisers now owns 40,811 shares of the company’s stock worth $272,000 after purchasing an additional 11,671 shares during the last quarter. 55.51% of the stock is currently owned by institutional investors and hedge funds.

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.