Sight Sciences (NASDAQ:SGHT) Rating Lowered to "Hold" at Lake Street Capital

Lake Street Capital cut shares of Sight Sciences (NASDAQ:SGHT - Free Report) from a buy rating to a hold rating in a report published on Monday, Marketbeat Ratings reports. Lake Street Capital currently has $5.00 price target on the stock, down from their previous price target of $10.00.

Several other research firms have also recently weighed in on SGHT. Morgan Stanley boosted their price objective on shares of Sight Sciences from $5.40 to $6.50 and gave the company an "equal weight" rating in a report on Monday, July 15th. Needham & Company LLC reissued a "hold" rating on shares of Sight Sciences in a report on Friday, August 2nd. Finally, Citigroup lifted their price objective on Sight Sciences from $6.00 to $6.50 and gave the stock a "neutral" rating in a report on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $6.00.

Sight Sciences Stock Down 10.6 %

SGHT stock traded down $0.55 during midday trading on Monday, hitting $4.66. The company's stock had a trading volume of 841,988 shares, compared to its average volume of 195,424. The company has a market cap of $234.43 million, a PE ratio of -4.87 and a beta of 2.74. The firm's 50-day moving average is $6.15 and its 200-day moving average is $6.27. Sight Sciences has a 12 month low of $1.58 and a 12 month high of $8.45. The company has a current ratio of 11.01, a quick ratio of 10.50 and a debt-to-equity ratio of 0.33.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.06. The company 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 posted ($0.30) earnings per share. On average, equities research analysts forecast that Sight Sciences will post -1 earnings per share for the current fiscal year.

Insider Transactions at Sight Sciences

In related news, insider Jeremy B. Hayden sold 4,878 shares of the firm's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $6.08, for a total value of $29,658.24. Following the transaction, the insider now directly owns 158,687 shares of the company's stock, valued at approximately $964,816.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Alison Bauerlein sold 10,130 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $6.08, for a total value of $61,590.40. Following the completion of the sale, the chief financial officer now directly owns 392,555 shares of the company's stock, valued at $2,386,734.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeremy B. Hayden sold 4,878 shares of the company's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $6.08, for a total transaction of $29,658.24. Following the completion of the transaction, the insider now directly owns 158,687 shares of the company's stock, valued at $964,816.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,357 shares of company stock worth $574,666 in the last 90 days. 28.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sight Sciences

Large investors have recently made changes to their positions in the business. Steele Capital Management Inc. purchased a new position in Sight Sciences in the 2nd quarter worth approximately $67,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Sight Sciences in the first quarter worth $59,000. SG Americas Securities LLC bought a new position in shares of Sight Sciences during the third quarter worth $75,000. The Manufacturers Life Insurance Company purchased a new position in Sight Sciences during the second quarter valued at $95,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake 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 acquiring an additional 9,106 shares in the last quarter. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

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.