Citigroup Issues Pessimistic Forecast for Sight Sciences (NASDAQ:SGHT) Stock Price

Sight Sciences (NASDAQ:SGHT) had its price objective cut by Citigroup from $5.80 to $4.60 in a report published on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also weighed in on SGHT. Morgan Stanley reduced their price target 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. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research report on Friday, November 8th. UBS Group started coverage on shares of Sight Sciences in a report on Friday, December 6th. They issued a “buy” rating and a $5.50 price target on the stock. Piper Sandler reissued a “neutral” rating and set a $5.50 price objective (down from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. Finally, Lake Street Capital lowered Sight Sciences from a “buy” rating to a “hold” rating and lowered their target price for the company from $10.00 to $5.00 in a research note on Monday, November 4th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.12.

Sight Sciences Price Performance

Sight Sciences stock opened at $3.58 on Wednesday. Sight Sciences has a 52 week low of $3.02 and a 52 week high of $8.45. The company’s 50 day moving average price is $4.65 and its two-hundred day moving average price is $5.96. The stock has a market cap of $181.72 million, a P/E ratio of -3.51 and a beta of 2.58. 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 (NASDAQ:SGHT) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $20.16 million for the quarter, compared to analyst estimates of $20.41 million. On average, 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, insider Jeremy B. Hayden sold 4,878 shares of Sight Sciences stock in a transaction 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 directly owns 158,687 shares in the company, valued at approximately $964,816.96. The trade was a 2.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Matthew Link sold 20,734 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $5.91, for a total value of $122,537.94. Following the sale, the insider now owns 726,838 shares in the company, valued at approximately $4,295,612.58. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 15,000 shares of company stock worth $58,232 and sold 97,357 shares worth $574,666. 28.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sight Sciences

Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Sight Sciences by 5.5% in the 1st 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of Sight Sciences by 1.6% in 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 period. State Street Corp raised its position in shares of Sight Sciences by 17.4% in the third quarter. State Street Corp now owns 646,776 shares of the company’s stock worth $4,075,000 after buying an additional 95,843 shares in the last quarter. Long Focus Capital Management LLC boosted its stake in Sight Sciences by 86.9% during the second quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company’s stock valued at $3,739,000 after buying an additional 260,594 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in 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 buying an additional 65,767 shares in the last quarter. 55.51% of the stock is currently owned by institutional investors.

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.