B. Riley Wealth Advisors Inc. Invests $1.23 Million in Sight Sciences, Inc. (NASDAQ:SGHT)

B. Riley Wealth Advisors Inc. acquired a new stake in shares of Sight Sciences, Inc. (NASDAQ:SGHT) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 185,082 shares of the company’s stock, valued at approximately $1,234,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System purchased a new stake in shares of Sight Sciences in the 1st quarter valued at about $59,000. Steele Capital Management Inc. bought a new position in shares of Sight Sciences in the second quarter worth approximately $67,000. The Manufacturers Life Insurance Company purchased a new stake in Sight Sciences in the second quarter valued at approximately $95,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Sight Sciences by 51.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,653 shares of the company’s stock valued at $141,000 after purchasing an additional 9,106 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Sight Sciences by 31.1% in the 2nd quarter. American Century Companies Inc. now owns 35,948 shares of the company’s stock worth $240,000 after buying an additional 8,527 shares in the last quarter. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Sight Sciences news, CEO Paul Badawi sold 12,727 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $5.99, for a total value of $76,234.73. Following the completion of the sale, the chief executive officer now owns 5,725,433 shares in the company, valued at $34,295,343.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Alison Bauerlein sold 10,130 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $6.08, for a total transaction of $61,590.40. Following the completion of the sale, the chief financial officer now directly owns 392,555 shares in the company, valued at $2,386,734.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Paul Badawi sold 12,727 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $5.99, for a total value of $76,234.73. Following the transaction, the chief executive officer now owns 5,725,433 shares in the company, valued at approximately $34,295,343.67. The disclosure for this sale can be found here. Insiders have sold a total of 34,305 shares of company stock worth $207,144 in the last ninety days. 28.90% of the stock is owned by insiders.

Sight Sciences Price Performance

SGHT stock opened at $6.00 on Friday. The firm has a market cap of $298.54 million, a P/E ratio of -5.36 and a beta of 2.71. The firm’s fifty day moving average is $6.54 and its 200 day moving average is $6.23. Sight Sciences, Inc. has a 52 week low of $1.04 and a 52 week high of $8.45. The company has a debt-to-equity ratio of 0.33, a quick ratio of 10.50 and a current ratio of 11.01.

Sight Sciences (NASDAQ:SGHT) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.06. The firm had revenue of $21.37 million for the quarter, compared to analysts’ expectations of $21.32 million. Sight Sciences had a negative return on equity of 45.68% and a negative net margin of 65.90%. During the same period last year, the firm earned ($0.30) earnings per share. Research analysts predict that Sight Sciences, Inc. will post -1 earnings per share for the current year.

Analysts Set New Price Targets

SGHT has been the topic of several research reports. Citigroup raised their price objective on shares of Sight Sciences from $6.00 to $6.50 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Needham & Company LLC restated a “hold” rating on shares of Sight Sciences in a research report on Friday, August 2nd. Lake Street Capital assumed coverage on Sight Sciences in a report on Wednesday, August 21st. They issued a “buy” rating and a $10.00 price objective for the company. Finally, Morgan Stanley increased their price objective on Sight Sciences from $5.40 to $6.50 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $7.25.

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.