Dynamic Technology Lab Private Ltd Makes New Investment in Sight Sciences, Inc. (NASDAQ:SGHT)

Dynamic Technology Lab Private Ltd bought a new stake in shares of Sight Sciences, Inc. (NASDAQ:SGHT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 10,881 shares of the company’s stock, valued at approximately $40,000.

Several other large investors have also recently made changes to their positions in SGHT. Arkadios Wealth Advisors bought a new position in shares of Sight Sciences during the fourth quarter valued at $47,000. WealthTrust Asset Management LLC purchased a new stake in Sight Sciences during the 4th quarter valued at about $48,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Sight Sciences during the 4th quarter valued at about $50,000. Stoneridge Investment Partners LLC purchased a new position in Sight Sciences in the fourth quarter worth about $55,000. Finally, Wells Fargo & Company MN lifted its stake in shares of 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 buying an additional 5,781 shares in the last quarter. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SGHT. Piper Sandler reduced their price target on shares of Sight Sciences from $5.50 to $3.50 and set a “neutral” rating for the company in a research report on Thursday, March 6th. Stifel Nicolaus reduced their target price on Sight Sciences from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, March 6th. UBS Group lowered their price target on Sight Sciences from $5.50 to $5.00 and set a “buy” rating on the stock in a report on Monday, January 27th. Citigroup dropped their price objective on Sight Sciences from $4.60 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Finally, Lake Street Capital decreased their target price on Sight Sciences from $3.00 to $2.50 and set a “hold” rating for the company in a research report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $3.83.

Insider Buying and Selling at Sight Sciences

In other news, CEO Paul Badawi sold 24,819 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $2.92, for a total value of $72,471.48. Following the transaction, the chief executive officer now owns 5,676,331 shares of the company’s stock, valued at $16,574,886.52. This trade represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Manohar K. Raheja acquired 10,000 shares of the stock in a transaction dated Wednesday, March 12th. The shares were bought at an average cost of $2.73 per share, for a total transaction of $27,300.00. Following the completion of the transaction, the executive vice president now owns 145,000 shares in the company, valued at approximately $395,850. This represents a 7.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 72,360 shares of company stock valued at $187,792. Insiders own 28.90% of the company’s stock.

Sight Sciences Stock Performance

Shares of SGHT opened at $2.38 on Friday. The firm has a market capitalization of $122.17 million, a P/E ratio of -2.33 and a beta of 2.46. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.18 and a quick ratio of 9.74. Sight Sciences, Inc. has a one year low of $2.03 and a one year high of $8.45. The business has a fifty day moving average of $2.58 and a 200 day moving average of $3.64.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.01). Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. The firm had revenue of $19.07 million for the quarter, compared to the consensus estimate of $18.98 million. During the same quarter in the prior year, the firm earned ($0.22) earnings per share. As a group, sell-side analysts anticipate that Sight Sciences, Inc. will post -0.99 EPS for the current year.

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.