Sight Sciences’ (SGHT) “Neutral” Rating Reaffirmed at Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of Sight Sciences (NASDAQ:SGHT) in a report issued on Friday,Benzinga reports. The firm currently has a $5.50 target price on the stock, down from their previous target price of $6.00.

A number of other equities analysts also recently commented on the stock. Lake Street Capital downgraded shares of 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, November 4th. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research report on Friday. Finally, Morgan Stanley boosted their target price on Sight Sciences from $5.40 to $6.50 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.88.

Sight Sciences Stock Performance

Shares of NASDAQ:SGHT traded down $0.45 on Friday, reaching $4.23. The company’s stock had a trading volume of 472,708 shares, compared to its average volume of 198,859. The company has a debt-to-equity ratio of 0.33, a current ratio of 11.01 and a quick ratio of 10.50. Sight Sciences has a 52-week low of $1.58 and a 52-week high of $8.45. The stock’s 50-day moving average is $5.93 and its two-hundred day moving average is $6.24. The stock has a market capitalization of $212.81 million, a P/E ratio of -3.95 and a beta of 2.74.

Sight Sciences (NASDAQ:SGHT) last posted 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 company had revenue of $20.16 million during the quarter, compared to analysts’ expectations of $20.41 million. Sight Sciences had a negative return on equity of 45.68% and a negative net margin of 65.90%. As a group, sell-side analysts forecast that Sight Sciences will post -1 EPS for the current year.

Insider Buying and Selling

In other Sight Sciences news, CEO Paul Badawi sold 12,727 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $5.99, for a total value of $76,234.73. Following the sale, the chief executive officer now owns 5,725,433 shares of the company’s stock, valued at approximately $34,295,343.67. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Alison Bauerlein sold 10,130 shares of Sight Sciences stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $6.08, for a total transaction of $61,590.40. Following the completion of the transaction, the chief financial officer now directly owns 392,555 shares in the company, valued at $2,386,734.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Paul Badawi sold 12,727 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $5.99, for a total value of $76,234.73. Following the completion of the sale, the chief executive officer now directly owns 5,725,433 shares in the company, valued at approximately $34,295,343.67. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,357 shares of company stock valued at $574,666. 28.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Sight Sciences

A number of institutional investors have recently made changes to their positions in SGHT. State Board of Administration of Florida Retirement System acquired a new position in shares of Sight Sciences in the first quarter valued at approximately $59,000. Steele Capital Management Inc. purchased a new position in shares of Sight Sciences during the 2nd quarter worth $67,000. SG Americas Securities LLC purchased a new position in shares of Sight Sciences during the 3rd quarter worth $75,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Sight Sciences during the second quarter worth $95,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Sight Sciences in the third quarter valued at $136,000. 55.51% of the stock is owned by institutional investors and hedge funds.

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.