Sight Sciences (NASDAQ:SGHT - Get Free Report)'s stock had its "hold" rating reiterated by analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports.
A number of other analysts have also commented on the stock. Stifel Nicolaus cut their price objective on shares of Sight Sciences from $5.00 to $4.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. UBS Group reduced their price objective on shares of Sight Sciences from $5.50 to $5.00 and set a "buy" rating for the company in a research note on Monday, January 27th. Citigroup lowered their target price on Sight Sciences from $4.60 to $3.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Piper Sandler reduced their price target on Sight Sciences from $5.50 to $3.50 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Finally, Lake Street Capital lowered their price target on Sight Sciences from $3.00 to $2.50 and set a "hold" rating on the stock in a research report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $3.83.
Check Out Our Latest Stock Report on Sight Sciences
Sight Sciences Stock Down 3.4 %
SGHT stock traded down $0.08 during trading hours on Wednesday, reaching $2.30. 99,909 shares of the stock were exchanged, compared to its average volume of 208,952. The firm's 50-day moving average is $2.58 and its 200-day moving average is $3.62. Sight Sciences has a 12 month low of $2.03 and a 12 month high of $8.45. The company has a market cap of $118.07 million, a price-to-earnings ratio of -2.25 and a beta of 2.46. The company has a debt-to-equity ratio of 0.36, a current ratio of 10.18 and a quick ratio of 9.74.
Sight Sciences (NASDAQ:SGHT - Get Free Report) last posted its quarterly earnings data 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 return on equity of 47.28% and a negative net margin of 63.30%. The firm had revenue of $19.07 million for the quarter, compared to analyst estimates of $18.98 million. During the same period in the prior year, the company earned ($0.22) earnings per share. On average, equities research analysts expect that Sight Sciences will post -0.99 earnings per share for the current year.
Insider Activity
In related news, EVP Manohar K. Raheja acquired 10,000 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $2.73 per share, for a total transaction of $27,300.00. Following the completion of the acquisition, the executive vice president now directly owns 145,000 shares in the company, valued at approximately $395,850. This trade represents a 7.41 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Paul Badawi sold 24,819 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $2.92, for a total transaction of $72,471.48. Following the completion of the transaction, the chief executive officer now directly owns 5,676,331 shares in the company, valued at $16,574,886.52. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,360 shares of company stock valued at $187,792 over the last three months. Insiders own 28.90% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC bought a new stake in shares of Sight Sciences during the fourth quarter worth approximately $36,000. Dynamic Technology Lab Private Ltd bought a new stake in Sight Sciences in the 4th quarter valued at $40,000. Arkadios Wealth Advisors acquired a new position in Sight Sciences in the 4th quarter valued at $47,000. WealthTrust Asset Management LLC bought a new position in Sight Sciences during the 4th quarter worth $48,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Sight Sciences during the fourth quarter worth $50,000. Institutional investors and hedge funds own 55.51% of the company's stock.
Sight Sciences Company Profile
(
Get Free Report)
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.
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