Needham & Company LLC Reaffirms “Hold” Rating for Sight Sciences (NASDAQ:SGHT)

Needham & Company LLC reaffirmed their hold rating on shares of Sight Sciences (NASDAQ:SGHT) in a research report released on Wednesday, Benzinga reports.

Sight Sciences Trading Down 2.3 %

Shares of NASDAQ:SGHT opened at $5.93 on Wednesday. The stock has a market capitalization of $293.83 million, a PE ratio of -5.20 and a beta of 2.83. Sight Sciences has a 1 year low of $1.04 and a 1 year high of $11.20. The firm has a fifty day moving average price of $4.69 and a 200 day moving average price of $3.97. The company has a current ratio of 13.29, a quick ratio of 12.65 and a debt-to-equity ratio of 0.26.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings results on Thursday, March 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.13. Sight Sciences had a negative net margin of 68.53% and a negative return on equity of 41.94%. The company had revenue of $18.75 million during the quarter, compared to analysts’ expectations of $18.70 million. During the same period in the prior year, the company earned ($0.35) earnings per share. Analysts expect that Sight Sciences will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling at Sight Sciences

In other Sight Sciences news, COO Sam Boong Park sold 5,443 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $5.16, for a total transaction of $28,085.88. Following the completion of the sale, the chief operating officer now directly owns 100,735 shares in the company, valued at $519,792.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Sam Boong Park sold 5,443 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $5.16, for a total transaction of $28,085.88. Following the completion of the transaction, the chief operating officer now owns 100,735 shares of the company’s stock, valued at $519,792.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paul Badawi sold 12,571 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $5.08, for a total transaction of $63,860.68. Following the transaction, the chief executive officer now directly owns 5,750,729 shares of the company’s stock, valued at approximately $29,213,703.32. The disclosure for this sale can be found here. Insiders sold 63,441 shares of company stock worth $324,625 over the last ninety days. Company insiders own 27.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. US Bancorp DE acquired a new position in Sight Sciences in the fourth quarter worth about $27,000. Cubist Systematic Strategies LLC acquired a new position in Sight Sciences in the third quarter worth about $37,000. FMR LLC raised its position in Sight Sciences by 484.6% in the second quarter. FMR LLC now owns 4,864 shares of the company’s stock worth $44,000 after purchasing an additional 4,032 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Sight Sciences in the fourth quarter worth about $54,000. Finally, American Century Companies Inc. raised its position in Sight Sciences by 51.0% in the third quarter. American Century Companies Inc. now owns 15,908 shares of the company’s stock worth $54,000 after purchasing an additional 5,370 shares in the last quarter. Institutional investors and hedge funds 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.