Sight Sciences (NASDAQ:SGHT) Cut to “Sell” at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of Sight Sciences (NASDAQ:SGHT – Free Report) from a hold rating to a sell rating in a research report report published on Friday.

A number of other equities analysts have also weighed in on SGHT. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research report on Thursday, August 28th. Piper Sandler restated a “neutral” rating and set a $4.00 target price (up previously from $3.50) on shares of Sight Sciences in a research report on Wednesday, June 18th. Morgan Stanley upped their target price on shares of Sight Sciences from $3.00 to $4.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. Citigroup increased their price objective on shares of Sight Sciences from $3.60 to $4.50 and gave the company a “neutral” rating in a research report on Thursday, August 21st. Finally, Lake Street Capital upgraded shares of Sight Sciences from a “hold” rating to a “buy” rating and increased their price objective for the company from $3.00 to $5.00 in a research report on Friday, August 8th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Sight Sciences currently has an average rating of “Hold” and a consensus target price of $4.42.

Check Out Our Latest Stock Report on Sight Sciences

Sight Sciences Price Performance

Shares of NASDAQ:SGHT opened at $3.69 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 9.49 and a current ratio of 10.01. The firm has a fifty day moving average price of $3.82 and a 200 day moving average price of $3.35. Sight Sciences has a fifty-two week low of $2.03 and a fifty-two week high of $7.03. The firm has a market cap of $193.25 million, a price-to-earnings ratio of -3.84 and a beta of 2.46.

Sight Sciences (NASDAQ:SGHT – Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.02. Sight Sciences had a negative net margin of 64.23% and a negative return on equity of 59.38%. The firm had revenue of $19.56 million during the quarter, compared to analyst estimates of $18.18 million. Sight Sciences has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Sight Sciences will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Sight Sciences

In other news, CEO Paul Badawi sold 23,637 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $4.15, for a total value of $98,093.55. Following the sale, the chief executive officer owned 5,986,943 shares of the company’s stock, valued at approximately $24,845,813.45. This represents a 0.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeremy B. Hayden sold 9,160 shares of the firm’s stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $4.17, for a total transaction of $38,197.20. Following the completion of the sale, the insider owned 266,321 shares of the company’s stock, valued at $1,110,558.57. This trade represents a 3.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,365 shares of company stock valued at $180,017 in the last quarter. 28.90% of the stock is owned by company insiders.

Institutional Trading of Sight Sciences

Institutional investors have recently added to or reduced their stakes in the company. CWM LLC lifted its stake in Sight Sciences by 70.2% in the second quarter. CWM LLC now owns 7,607 shares of the company’s stock worth $31,000 after purchasing an additional 3,137 shares during the last quarter. ProShare Advisors LLC bought a new stake in Sight Sciences in the fourth quarter worth about $36,000. Tower Research Capital LLC TRC lifted its stake 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 during the last quarter. Bank of Montreal Can bought a new stake in Sight Sciences in the second quarter worth about $49,000. Finally, Wells Fargo & Company MN lifted its stake in Sight Sciences by 53.4% in the fourth quarter. Wells Fargo & Company MN now owns 16,600 shares of the company’s stock worth $60,000 after purchasing an additional 5,781 shares during the last quarter. Institutional investors own 55.51% of the company’s stock.

About Sight Sciences

(Get Free Report)

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.

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