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

Shares of Sight Sciences, Inc. (NASDAQ:SGHT) have been given an average rating of “Hold” by the seven research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $4.70.

SGHT has been the topic of several research reports. Piper Sandler reissued a “neutral” rating and set a $6.00 price objective (up from $5.00) on shares of Sight Sciences in a research report on Friday, May 3rd. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research report on Friday, May 3rd.

Sight Sciences Price Performance

Shares of NASDAQ:SGHT opened at $6.38 on Monday. The company’s fifty day moving average price is $5.93 and its 200 day moving average price is $5.09. Sight Sciences has a 12 month low of $1.04 and a 12 month high of $9.31. The company has a debt-to-equity ratio of 0.31, a current ratio of 13.01 and a quick ratio of 12.42. The firm has a market capitalization of $317.47 million, a P/E ratio of -5.70 and a beta of 2.76.

Sight Sciences (NASDAQ:SGHT) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.04). Sight Sciences had a negative return on equity of 44.45% and a negative net margin of 67.18%. The business had revenue of $19.27 million for the quarter, compared to analysts’ expectations of $18.34 million. As a group, sell-side analysts predict that Sight Sciences will post -1.13 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Paul Badawi sold 12,571 shares of Sight Sciences stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $5.08, for a total value of $63,860.68. Following the sale, the chief executive officer now owns 5,750,729 shares of the company’s stock, valued at $29,213,703.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Alison Bauerlein sold 10,123 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $5.08, for a total transaction of $51,424.84. Following the sale, the chief financial officer now owns 426,248 shares of the company’s stock, valued at $2,165,339.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Paul Badawi sold 12,571 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $5.08, for a total transaction of $63,860.68. Following the sale, the chief executive officer now directly owns 5,750,729 shares in the company, valued at approximately $29,213,703.32. The disclosure for this sale can be found here. Insiders have sold a total of 47,195 shares of company stock valued at $244,193 over the last quarter. Corporate insiders own 28.90% of the company’s stock.

Institutional Trading of Sight Sciences

A number of institutional investors have recently added to or reduced their stakes in SGHT. Swiss National Bank boosted its holdings in Sight Sciences by 19.5% during the third quarter. Swiss National Bank now owns 69,314 shares of the company’s stock worth $234,000 after buying an additional 11,300 shares in the last quarter. Federated Hermes Inc. raised its position in Sight Sciences by 100.0% during the third quarter. Federated Hermes Inc. now owns 60,000 shares of the company’s stock worth $202,000 after acquiring an additional 30,000 shares during the last quarter. Panagora Asset Management Inc. raised its position in Sight Sciences by 198.1% during the fourth quarter. Panagora Asset Management Inc. now owns 59,190 shares of the company’s stock worth $305,000 after acquiring an additional 39,333 shares during the last quarter. Jackson Square Partners LLC raised its position in Sight Sciences by 12.0% during the fourth quarter. Jackson Square Partners LLC now owns 1,629,746 shares of the company’s stock worth $8,409,000 after acquiring an additional 174,737 shares during the last quarter. Finally, UBS Group AG raised its position in Sight Sciences by 20,282.6% during the fourth quarter. UBS Group AG now owns 2,895,958 shares of the company’s stock worth $14,943,000 after acquiring an additional 2,881,750 shares during the last quarter. Hedge funds and other 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.