Sight Sciences (NASDAQ:SGHT) Given New $3.00 Price Target at Citigroup

Sight Sciences (NASDAQ:SGHT - Get Free Report) had its target price decreased by equities researchers at Citigroup from $4.60 to $3.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Citigroup's target price indicates a potential upside of 23.97% from the stock's current price.

Several other equities analysts also recently weighed in on SGHT. Morgan Stanley cut their target price on Sight Sciences from $7.00 to $5.00 and set an "equal weight" rating on the stock in a research report on Monday, November 11th. Stifel Nicolaus dropped their price objective on Sight Sciences from $6.00 to $5.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Lake Street Capital dropped their price objective on Sight Sciences from $5.00 to $3.00 and set a "hold" rating for the company in a report on Wednesday, January 15th. Piper Sandler restated a "neutral" rating and set a $5.50 price objective (down previously from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. Finally, Needham & Company LLC restated a "hold" rating on shares of Sight Sciences in a report on Tuesday, January 14th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Sight Sciences has an average rating of "Hold" and a consensus price target of $4.42.

Sight Sciences Price Performance

NASDAQ:SGHT traded down $0.05 during trading hours on Tuesday, reaching $2.42. The stock had a trading volume of 306,586 shares, compared to its average volume of 250,793. The stock has a market capitalization of $122.83 million, a PE ratio of -2.37 and a beta of 2.52. The company has a debt-to-equity ratio of 0.36, a quick ratio of 9.74 and a current ratio of 10.18. The company has a 50 day moving average price of $2.95 and a two-hundred day moving average price of $4.45. Sight Sciences has a 52 week low of $2.29 and a 52 week high of $8.45.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last released its earnings results on Wednesday, March 5th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate 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%. During the same period in the prior year, the company posted ($0.22) EPS. As a group, sell-side analysts anticipate that Sight Sciences will post -0.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sight Sciences news, CEO Paul Badawi sold 12,236 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.60, for a total value of $44,049.60. Following the completion of the sale, the chief executive officer now directly owns 5,713,197 shares in the company, valued at approximately $20,567,509.20. This represents a 0.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 63,014 shares of company stock worth $197,295. 28.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sight Sciences

Hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC purchased a new stake in shares of Sight Sciences in the 4th quarter worth $36,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Sight Sciences in the 4th quarter worth $40,000. Arkadios Wealth Advisors purchased a new stake in shares of Sight Sciences during the 4th quarter worth $47,000. WealthTrust Asset Management LLC purchased a new stake in shares of Sight Sciences during the 4th quarter worth $48,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Sight Sciences during the 4th quarter worth $50,000. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

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.