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

Sight Sciences (NASDAQ:SGHT)‘s stock had its “hold” rating reissued by Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports.

Other equities research analysts have also issued reports about the company. Lake Street Capital lowered Sight Sciences from a “buy” rating to a “hold” rating and cut their price objective for the stock from $10.00 to $5.00 in a research report on Monday. Morgan Stanley raised their target price on Sight Sciences from $5.40 to $6.50 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $5.88.

Sight Sciences Price Performance

Shares of SGHT stock opened at $4.68 on Friday. The firm has a market cap of $235.45 million, a P/E ratio of -4.37 and a beta of 2.74. Sight Sciences has a fifty-two week low of $1.58 and a fifty-two week high of $8.45. The business’s 50 day moving average price is $5.98 and its 200-day moving average price is $6.25. The company has a debt-to-equity ratio of 0.33, a quick ratio of 10.50 and a current ratio of 11.01.

Sight Sciences (NASDAQ:SGHT) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01. The firm had revenue of $20.16 million for the quarter, compared to analyst estimates of $20.41 million. Sight Sciences had a negative return on equity of 45.68% and a negative net margin of 65.90%. On average, equities research analysts anticipate that Sight Sciences will post -1 earnings per share for the current year.

Insider Activity

In other news, insider Jeremy B. Hayden sold 4,878 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $6.08, for a total value of $29,658.24. Following the completion of the transaction, the insider now owns 158,687 shares in the company, valued at $964,816.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Sight Sciences news, insider Matthew Link sold 21,831 shares of Sight Sciences 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 completion of the transaction, the insider now owns 663,550 shares in the company, valued at approximately $3,722,515.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeremy B. Hayden sold 4,878 shares of Sight Sciences stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $6.08, for a total value of $29,658.24. Following the transaction, the insider now owns 158,687 shares of the company’s stock, valued at $964,816.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,357 shares of company stock worth $574,666 in the last quarter. 28.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. raised its stake in shares of Sight Sciences by 25.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 377,057 shares of the company’s stock worth $1,991,000 after purchasing an additional 76,549 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Sight Sciences by 51.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock worth $141,000 after purchasing an additional 9,106 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Sight Sciences by 5.5% in the first quarter. Vanguard Group Inc. now owns 1,556,450 shares of the company’s stock worth $8,218,000 after purchasing an additional 81,768 shares during the last quarter. Long Focus Capital Management LLC raised its stake in shares of Sight Sciences by 86.9% in 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, Acadian Asset Management LLC raised its stake in shares of Sight Sciences by 256.6% in the second quarter. Acadian Asset Management LLC now owns 83,693 shares of the company’s stock worth $556,000 after purchasing an additional 60,220 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.