Sight Sciences, Inc. (NASDAQ:SGHT) Receives $5.12 Consensus Target Price from Brokerages

Shares of Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) have received a consensus recommendation of "Hold" from the six ratings firms that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $5.12.

A number of equities research analysts have commented on SGHT shares. Piper Sandler restated a "neutral" rating and issued a $5.50 price target (down from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. Morgan Stanley reduced 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 dropped their price target on Sight Sciences from $5.80 to $4.60 and set a "neutral" rating on the stock in a research note on Wednesday, December 11th. Lake Street Capital downgraded Sight Sciences from a "buy" rating to a "hold" rating and decreased their price objective for the company from $10.00 to $5.00 in a report on Monday, November 4th. Finally, UBS Group initiated coverage on Sight Sciences in a report on Friday, December 6th. They issued a "buy" rating and a $5.50 target price on the stock.

Insider Activity at Sight Sciences

In related news, insider Matthew Link sold 21,831 shares of the firm's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $5.61, for a total transaction of $122,471.91. Following the transaction, the insider now directly owns 663,550 shares of the company's stock, valued at $3,722,515.50. This trade represents a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Paul Badawi sold 12,727 shares of the company's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $5.99, for a total transaction of $76,234.73. Following the completion of the sale, the chief executive officer now directly owns 5,725,433 shares of the company's stock, valued at $34,295,343.67. The trade was a 0.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 15,000 shares of company stock valued at $58,232 and have sold 78,946 shares valued at $462,727. 28.90% of the stock is owned by insiders.

Institutional Trading of Sight Sciences

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its position in shares of Sight Sciences by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 784,129 shares of the company's stock valued at $4,941,000 after purchasing an additional 12,709 shares during the last quarter. State Street Corp increased its holdings in Sight Sciences by 17.4% during the third quarter. State Street Corp now owns 646,776 shares of the company's stock worth $4,075,000 after buying an additional 95,843 shares during the last quarter. Long Focus Capital Management LLC raised its position in Sight Sciences by 86.9% in the second quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company's stock worth $3,739,000 after acquiring an additional 260,594 shares during the period. Jacobs Levy Equity Management Inc. raised its position in Sight Sciences by 46.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 207,893 shares of the company's stock worth $1,310,000 after acquiring an additional 65,767 shares during the period. Finally, B. Riley Wealth Advisors Inc. boosted its stake in Sight Sciences by 5.4% in the third quarter. B. Riley Wealth Advisors Inc. now owns 195,082 shares of the company's stock valued at $1,174,000 after acquiring an additional 10,000 shares during the last quarter. 55.51% of the stock is currently owned by institutional investors.

Sight Sciences Trading Up 3.1 %

Shares of NASDAQ:SGHT traded up $0.11 during midday trading on Tuesday, reaching $3.64. The company's stock had a trading volume of 166,045 shares, compared to its average volume of 202,511. Sight Sciences has a fifty-two week low of $3.30 and a fifty-two week high of $8.45. 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 firm has a 50 day moving average price of $4.15 and a two-hundred day moving average price of $5.70. The firm has a market capitalization of $184.75 million, a price-to-earnings ratio of -3.57 and a beta of 2.58.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.01. The firm had revenue of $20.16 million for the quarter, compared to analyst estimates of $20.41 million. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. As a group, analysts forecast that Sight Sciences will post -1.01 earnings per share for the current year.

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.