Sight Sciences, Inc. (NASDAQ:SGHT) Given Average Recommendation of “Hold” by Brokerages

Sight Sciences, Inc. (NASDAQ:SGHT) has received a consensus rating of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $8.30.

SGHT has been the subject of several analyst reports. Piper Sandler set a $9.00 price objective on shares of Sight Sciences in a research note on Monday. Citigroup boosted their price target on Sight Sciences from $5.50 to $9.10 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Morgan Stanley raised their price objective on Sight Sciences from $6.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sight Sciences in a research note on Monday, December 29th. Finally, Lake Street Capital upped their price objective on shares of Sight Sciences from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st.

Insider Activity at Sight Sciences

In other Sight Sciences news, CEO Paul Badawi sold 11,870 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $7.48, for a total value of $88,787.60. Following the sale, the chief executive officer owned 5,925,276 shares of the company’s stock, valued at approximately $44,321,064.48. This trade represents a 0.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO James Rodberg sold 4,405 shares of Sight Sciences stock in a transaction on Monday, January 5th. The shares were sold at an average price of $7.82, for a total value of $34,447.10. Following the completion of the transaction, the chief financial officer owned 154,440 shares in the company, valued at approximately $1,207,720.80. The trade was a 2.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 126,092 shares of company stock worth $970,005 in the last 90 days. Corporate insiders own 30.90% of the company’s stock.

Institutional Trading of Sight Sciences

Several large investors have recently bought and sold shares of SGHT. KCK LTD. bought a new position in Sight Sciences in the second quarter valued at about $18,069,000. Long Focus Capital Management LLC boosted its stake in shares of Sight Sciences by 1.3% in the 3rd quarter. Long Focus Capital Management LLC now owns 3,193,305 shares of the company’s stock valued at $10,985,000 after purchasing an additional 41,797 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Sight Sciences by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,906,696 shares of the company’s stock valued at $6,559,000 after purchasing an additional 102,609 shares during the last quarter. Americana Partners LLC grew its holdings in shares of Sight Sciences by 42.4% during the 3rd quarter. Americana Partners LLC now owns 1,229,819 shares of the company’s stock valued at $4,231,000 after purchasing an additional 365,901 shares during the last quarter. Finally, B Group Inc. increased its position in Sight Sciences by 11.6% during the 2nd quarter. B Group Inc. now owns 930,000 shares of the company’s stock worth $3,841,000 after purchasing an additional 96,400 shares in the last quarter. 55.51% of the stock is owned by institutional investors and hedge funds.

Sight Sciences Price Performance

Shares of NASDAQ SGHT opened at $7.18 on Friday. The firm has a market cap of $379.61 million, a P/E ratio of -7.98 and a beta of 2.42. The business’s 50 day moving average is $7.66 and its 200-day moving average is $5.19. The company has a current ratio of 9.60, a quick ratio of 8.93 and a debt-to-equity ratio of 0.62. Sight Sciences has a 1-year low of $2.03 and a 1-year high of $9.24.

Sight Sciences (NASDAQ:SGHT) last posted its quarterly earnings data on Wednesday, September 8th. The company reported ($0.81) earnings per share for the quarter. The firm had revenue of $12.54 million for the quarter. Sight Sciences had a negative return on equity of 61.59% and a negative net margin of 60.63%. Equities research analysts predict that Sight Sciences will post -0.99 earnings per share for the current year.

About Sight Sciences

Sight Sciences, Inc is a medical device company focused on developing and commercializing minimally invasive treatments for chronic eye diseases. The company’s flagship products include the OMNI® Surgical System, designed to address multiple points of resistance in the eye’s natural drainage pathways to lower intraocular pressure in glaucoma patients, and the TearCare® System, a wearable device for treating meibomian gland dysfunction and dry eye disease through targeted thermal pulsation therapy.

Since its founding in 2012 and subsequent listing on the NASDAQ under the ticker SGHT, Sight Sciences has pursued a strategy of combining research-driven product development with a direct sales force model.