Sight Sciences (NASDAQ:SGHT) Given New $2.50 Price Target at Lake Street Capital

Sight Sciences (NASDAQ:SGHT) had its price objective decreased by Lake Street Capital from $3.00 to $2.50 in a report issued on Thursday,Benzinga reports. Lake Street Capital currently has a hold rating on the stock.

A number of other research analysts have also recently issued reports on SGHT. Morgan Stanley decreased their target price on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Citigroup decreased their target price on Sight Sciences from $4.60 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Piper Sandler decreased their target price on Sight Sciences from $5.50 to $3.50 and set a “neutral” rating for the company in a research note on Thursday. Stifel Nicolaus cut 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. Finally, UBS Group cut 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. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $3.83.

Sight Sciences Stock Down 5.2 %

NASDAQ:SGHT opened at $2.36 on Thursday. Sight Sciences has a 1 year low of $2.17 and a 1 year high of $8.45. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36. The stock has a market cap of $119.78 million, a price-to-earnings ratio of -2.31 and a beta of 2.52. The stock has a 50-day moving average price of $2.90 and a two-hundred day moving average price of $4.39.

Sight Sciences (NASDAQ:SGHT) last posted its 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 business had revenue of $19.07 million during the quarter, compared to analyst estimates of $18.98 million. During the same period in the previous year, the firm posted ($0.22) earnings per share. As a group, equities analysts expect that Sight Sciences will post -0.99 earnings per share for the current year.

Insider Activity

In related news, CEO Paul Badawi sold 24,819 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $2.92, for a total transaction of $72,471.48. Following the sale, the chief executive officer now owns 5,676,331 shares in the company, valued at approximately $16,574,886.52. This represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 63,014 shares of company stock worth $197,295 over the last three months. Corporate insiders own 28.90% of the company’s stock.

Hedge Funds Weigh In On Sight Sciences

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