Sight Sciences (NASDAQ:SGHT) Raised to Hold at Wall Street Zen

by · The Cerbat Gem

Sight Sciences (NASDAQ:SGHT – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts have also issued reports on the stock. Piper Sandler reissued a “neutral” rating and set a $4.00 target price (up previously from $3.50) on shares of Sight Sciences in a research note on Wednesday, June 18th. Stifel Nicolaus reduced their price objective on shares of Sight Sciences from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Citigroup reaffirmed a “neutral” rating and issued a $3.60 price objective (up previously from $3.20) on shares of Sight Sciences in a research note on Thursday, May 22nd. Lake Street Capital lifted their price objective on shares of Sight Sciences from $2.50 to $3.00 and gave the company a “hold” rating in a research note on Friday, May 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Sight Sciences in a research note on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Sight Sciences presently has an average rating of “Hold” and a consensus target price of $4.10.

Get Our Latest Report on Sight Sciences

Sight Sciences Trading Up 1.2%

Sight Sciences stock opened at $4.30 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 9.99 and a current ratio of 10.47. The firm has a market cap of $222.31 million, a price-to-earnings ratio of -4.39 and a beta of 2.46. Sight Sciences has a 1 year low of $2.03 and a 1 year high of $8.45. The firm’s 50 day moving average price is $3.60 and its two-hundred day moving average price is $3.11.

Sight Sciences (NASDAQ:SGHT – Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.01. The firm had revenue of $17.51 million during the quarter, compared to analyst estimates of $16.51 million. Sight Sciences had a negative net margin of 63.24% and a negative return on equity of 54.62%. On average, research analysts predict that Sight Sciences will post -0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Paul Badawi sold 24,174 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $2.30, for a total transaction of $55,600.20. Following the completion of the transaction, the chief executive officer now owns 6,010,580 shares of the company’s stock, valued at approximately $13,824,334. This represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 35,196 shares of company stock valued at $81,001 in the last quarter. Insiders own 28.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SGHT. Charles Schwab Investment Management Inc. raised its position in shares of Sight Sciences by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 268,250 shares of the company’s stock valued at $976,000 after buying an additional 11,259 shares during the last quarter. WealthTrust Asset Management LLC acquired a new position in shares of Sight Sciences during the fourth quarter valued at about $48,000. American Century Companies Inc. raised its position in shares of Sight Sciences by 10.7% during the fourth quarter. American Century Companies Inc. now owns 51,564 shares of the company’s stock valued at $188,000 after buying an additional 4,964 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Sight Sciences during the fourth quarter valued at about $50,000. Finally, JPMorgan Chase & Co. raised its position in shares of Sight Sciences by 52.7% during the fourth quarter. JPMorgan Chase & Co. now owns 106,351 shares of the company’s stock valued at $387,000 after buying an additional 36,691 shares during the last quarter. Institutional investors and hedge funds own 55.51% of the company’s stock.

Sight Sciences Company Profile

(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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