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

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

A number of other equities analysts have also recently issued reports on the stock. Citigroup decreased their price objective on shares of Sight Sciences from $4.60 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday. Morgan Stanley decreased their price objective 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. Lake Street Capital decreased their price objective on shares of Sight Sciences from $5.00 to $3.00 and set a “hold” rating on the stock in a research report on Wednesday, January 15th. Stifel Nicolaus decreased their price objective on shares of Sight Sciences from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, UBS Group reduced their price target on shares of Sight Sciences from $5.50 to $5.00 and set a “buy” rating on the stock in a research report on Monday, January 27th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Sight Sciences presently has a consensus rating of “Hold” and a consensus price target of $3.83.

Sight Sciences Price Performance

Shares of NASDAQ:SGHT opened at $2.36 on Thursday. The stock has a market cap of $119.78 million, a PE ratio of -2.31 and a beta of 2.52. The company’s fifty day moving average is $2.92 and its 200 day moving average is $4.43. Sight Sciences has a 52 week low of $2.17 and a 52 week high of $8.45. 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 released its quarterly earnings data on Wednesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.01). Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. The firm had revenue of $19.07 million during the quarter, compared to analysts’ expectations of $18.98 million. During the same quarter in the previous year, the firm posted ($0.22) EPS. Research analysts anticipate that Sight Sciences will post -0.99 earnings per share for the current year.

Insider Activity at Sight Sciences

In related news, CEO Paul Badawi sold 12,236 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.60, for a total transaction of $44,049.60. Following the sale, the chief executive officer now owns 5,713,197 shares of the company’s stock, valued at $20,567,509.20. The trade was a 0.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 63,014 shares of company stock worth $197,295 over the last 90 days. 28.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sight Sciences

Several hedge funds have recently bought and sold shares of the business. KCK LTD. bought a new stake in Sight Sciences during the fourth quarter worth about $15,925,000. Long Focus Capital Management LLC boosted its stake in Sight Sciences by 158.8% during the fourth quarter. Long Focus Capital Management LLC now owns 2,238,632 shares of the company’s stock worth $8,149,000 after acquiring an additional 1,373,535 shares in the last quarter. Prosight Management LP boosted its stake in Sight Sciences by 71.1% during the fourth quarter. Prosight Management LP now owns 908,847 shares of the company’s stock worth $3,308,000 after acquiring an additional 377,625 shares in the last quarter. Geode Capital Management LLC boosted its stake in Sight Sciences by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 792,860 shares of the company’s stock worth $2,887,000 after acquiring an additional 8,731 shares in the last quarter. Finally, State Street Corp boosted its stake in 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 acquiring an additional 95,843 shares in the last quarter. 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.