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

by · The Markets Daily

Sight Sciences, Inc. (NASDAQ:SGHT – Get Free Report) has received a consensus rating of “Hold” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $8.30.

Several research firms recently weighed in on SGHT. Piper Sandler set a $9.00 price target on Sight Sciences in a research report on Monday, January 5th. UBS Group increased their price target on shares of Sight Sciences from $7.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, December 23rd. Lake Street Capital raised their price target on shares of Sight Sciences from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Morgan Stanley upped their price objective on shares of Sight Sciences from $6.00 to $8.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 2nd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Sight Sciences in a research report on Monday, December 29th.

Check Out Our Latest Stock Analysis on SGHT

Sight Sciences Price Performance

SGHT stock opened at $6.89 on Friday. Sight Sciences has a one year low of $2.03 and a one year high of $9.24. The firm has a 50-day moving average of $7.78 and a two-hundred day moving average of $5.25. The firm has a market capitalization of $364.27 million, a PE ratio of -7.66 and a beta of 2.42. 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 (NASDAQ:SGHT – Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.10. Sight Sciences had a negative net margin of 60.63% and a negative return on equity of 61.59%. The business had revenue of $19.91 million for the quarter, compared to analyst estimates of $17.74 million. On average, analysts forecast that Sight Sciences will post -0.99 earnings per share for the current year.

Insider Activity

In other news, CTO David Badawi sold 3,695 shares of Sight Sciences stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $7.48, for a total transaction of $27,638.60. Following the completion of the sale, the chief technology officer directly owned 1,917,109 shares in the company, valued at $14,339,975.32. The trade was a 0.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paul Badawi sold 11,870 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $7.48, for a total value of $88,787.60. Following the completion of the sale, the chief executive officer directly owned 5,925,276 shares of the company’s stock, valued at approximately $44,321,064.48. The trade was a 0.20% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 126,092 shares of company stock valued at $970,005. 30.90% of the stock is currently owned by company insiders.

Institutional Trading of Sight Sciences

A number of institutional investors have recently added to or reduced their stakes in the business. Alliancebernstein L.P. increased its stake in shares of Sight Sciences by 5.5% during the 3rd quarter. Alliancebernstein L.P. now owns 34,380 shares of the company’s stock worth $118,000 after purchasing an additional 1,800 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Sight Sciences by 32.7% in the second quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock worth $48,000 after purchasing an additional 2,875 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Sight Sciences by 1.0% during the third quarter. Dimensional Fund Advisors LP now owns 303,634 shares of the company’s stock worth $1,045,000 after buying an additional 3,051 shares during the last quarter. CWM LLC raised its holdings in Sight Sciences by 70.2% during the second quarter. CWM LLC now owns 7,607 shares of the company’s stock valued at $31,000 after buying an additional 3,137 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Sight Sciences by 99.8% in the third quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock worth $26,000 after buying an additional 3,785 shares during the last quarter. 55.51% of the stock is currently owned by institutional investors and hedge funds.

About Sight Sciences

(Get Free Report)

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.

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