Sight Sciences, Inc. (NASDAQ:SGHT) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have earned an average recommendation of “Hold” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $3.83.

SGHT has been the topic of several research reports. Lake Street Capital cut their price target on shares of Sight Sciences from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Thursday, March 6th. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a report on Thursday, March 6th. Piper Sandler cut their price target on shares of Sight Sciences from $5.50 to $3.50 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Citigroup cut their price target on shares of Sight Sciences from $4.60 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, UBS Group cut their price target on shares of Sight Sciences from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Monday, January 27th.

Sight Sciences Price Performance

SGHT opened at $2.89 on Friday. The company’s 50 day simple moving average is $2.76 and its 200 day simple moving average is $4.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18. Sight Sciences has a 1 year low of $2.17 and a 1 year high of $8.45. The stock has a market capitalization of $148.35 million, a PE ratio of -2.83 and a beta of 2.52.

Sight Sciences (NASDAQ:SGHT) last released its earnings results on Wednesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.01). Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. The company had revenue of $19.07 million during the quarter, compared to analyst estimates of $18.98 million. During the same period in the prior year, the business posted ($0.22) earnings per share. As a group, sell-side analysts expect that Sight Sciences will post -0.99 EPS for the current year.

Insider Activity

In related news, CEO Paul Badawi sold 24,819 shares of Sight Sciences stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $2.92, for a total value of $72,471.48. Following the completion of the sale, the chief executive officer now owns 5,676,331 shares in the company, valued at approximately $16,574,886.52. The trade was a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Manohar K. Raheja purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average price of $2.73 per share, with a total value of $27,300.00. Following the purchase, the executive vice president now owns 145,000 shares of the company’s stock, valued at approximately $395,850. The trade was a 7.41 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 63,014 shares of company stock worth $197,295 over the last 90 days. Company insiders own 28.90% of the company’s stock.

Institutional Trading of Sight Sciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. ProShare Advisors LLC bought a new stake in shares of Sight Sciences in the fourth quarter worth $36,000. Dynamic Technology Lab Private Ltd acquired a new position in Sight Sciences in the fourth quarter worth $40,000. Arkadios Wealth Advisors acquired a new position in Sight Sciences in the fourth quarter worth $47,000. WealthTrust Asset Management LLC acquired a new position in Sight Sciences in the fourth quarter worth $48,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Sight Sciences in the fourth quarter worth $50,000. 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.