Sight Sciences (NASDAQ:SGHT) Earns Hold Rating from Needham & Company LLC

Sight Sciences (NASDAQ:SGHT)‘s stock had its “hold” rating restated by research analysts at Needham & Company LLC in a report issued on Wednesday,Benzinga reports.

A number of other research firms have also recently issued reports on SGHT. Piper Sandler lowered their price objective 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. Lake Street Capital lowered their price target on shares of Sight Sciences from $3.00 to $2.50 and set a “hold” rating for the company in a report on Thursday, March 6th. UBS Group cut their price objective 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 reduced 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, Stifel Nicolaus reduced their price target on Sight Sciences from $5.00 to $4.00 and set a “buy” rating on the stock in a 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $3.83.

Sight Sciences Stock Performance

Shares of NASDAQ:SGHT opened at $2.09 on Wednesday. Sight Sciences has a 1 year low of $2.03 and a 1 year high of $8.45. The stock has a market capitalization of $107.29 million, a price-to-earnings ratio of -2.05 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. The company’s 50 day simple moving average is $2.62 and its 200 day simple moving average is $3.74.

Sight Sciences (NASDAQ:SGHT) last issued its quarterly earnings results on Wednesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.01). The business had revenue of $19.07 million during the quarter, compared to the consensus estimate of $18.98 million. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. During the same quarter in the previous year, the business posted ($0.22) EPS. As a group, research analysts predict that Sight Sciences will post -0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Paul Badawi sold 24,174 shares of Sight Sciences stock in a transaction on 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 $13,824,334. This trade 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 available at the SEC website. Also, EVP Manohar K. Raheja bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $2.73 per share, for a total transaction of $27,300.00. Following the acquisition, the executive vice president now owns 145,000 shares of the company’s stock, valued at $395,850. This trade represents a 7.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 72,360 shares of company stock worth $187,792. 28.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sight Sciences

Several institutional investors and hedge funds have recently made changes to their positions in SGHT. ProShare Advisors LLC acquired a new position in Sight Sciences in the fourth quarter valued at approximately $36,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Sight Sciences in the 4th quarter valued at $40,000. Arkadios Wealth Advisors acquired a new position in shares of Sight Sciences during the 4th quarter valued at $47,000. WealthTrust Asset Management LLC bought a new position in Sight Sciences during the fourth quarter worth $48,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Sight Sciences in the fourth quarter worth $50,000. Institutional investors own 55.51% of the company’s stock.

About Sight Sciences

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.