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

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have received an average recommendation of “Hold” from the nine ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $8.1438.

A number of equities analysts have recently weighed in on the company. Weiss Ratings lowered Sight Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Citigroup boosted their price target on Sight Sciences from $4.35 to $5.15 and gave the company a “neutral” rating in a research note on Thursday, May 28th. Finally, UBS Group decreased their price objective on Sight Sciences from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, March 6th.

Sight Sciences Price Performance

Shares of SGHT opened at $5.45 on Friday. The firm has a market cap of $296.53 million, a P/E ratio of -7.68 and a beta of 2.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 5.48 and a current ratio of 5.86. Sight Sciences has a 52 week low of $3.11 and a 52 week high of $9.24. The firm’s 50-day simple moving average is $4.93 and its 200 day simple moving average is $5.36.

Sight Sciences (NASDAQ:SGHT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.05). Sight Sciences had a negative return on equity of 52.34% and a negative net margin of 46.83%.The company had revenue of $19.70 million for the quarter, compared to analyst estimates of $18.46 million. On average, analysts forecast that Sight Sciences will post -0.6 earnings per share for the current year.

Insider Transactions at Sight Sciences

In other Sight Sciences news, CFO James Rodberg sold 7,231 shares of Sight Sciences stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $3.55, for a total value of $25,670.05. Following the completion of the sale, the chief financial officer owned 230,939 shares in the company, valued at $819,833.45. The trade was a 3.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeremy B. Hayden sold 13,761 shares of Sight Sciences stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $3.55, for a total transaction of $48,851.55. Following the completion of the sale, the insider owned 369,770 shares of the company’s stock, valued at $1,312,683.50. This trade represents a 3.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 30.90% of the company’s stock.

Institutional Investors Weigh In On Sight Sciences

A number of hedge funds and other institutional investors have recently made changes to their positions in SGHT. Renaissance Technologies LLC boosted its stake in shares of Sight Sciences by 6.3% in the first quarter. Renaissance Technologies LLC now owns 293,358 shares of the company’s stock valued at $1,106,000 after buying an additional 17,458 shares during the period. Dimensional Fund Advisors LP increased its stake in Sight Sciences by 13.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 341,681 shares of the company’s stock worth $1,288,000 after acquiring an additional 40,346 shares during the period. WealthTrust Asset Management LLC raised its holdings in Sight Sciences by 14.1% in the 1st quarter. WealthTrust Asset Management LLC now owns 44,635 shares of the company’s stock valued at $168,000 after acquiring an additional 5,529 shares in the last quarter. Hillsdale Investment Management Inc. raised its holdings in Sight Sciences by 7,118.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 69,300 shares of the company’s stock valued at $261,000 after acquiring an additional 68,340 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Sight Sciences during the 1st quarter valued at $147,000. 55.51% of the stock is currently owned by institutional investors and hedge funds.

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.