Sight Sciences, Inc. (NASDAQ:SGHT) Given Average Rating of "Hold" by Brokerages

Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) has received a consensus rating of "Hold" from the seven research firms that are currently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $3.83.

Several equities research analysts recently issued reports on the stock. Lake Street Capital cut their price objective on shares of Sight Sciences from $3.00 to $2.50 and set a "hold" rating for the company in a research report on Thursday, March 6th. Stifel Nicolaus reduced their price target 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 lowered their price target on Sight Sciences from $5.50 to $5.00 and set a "buy" rating for the company in a report on Monday, January 27th. Citigroup lowered their price objective on shares of Sight Sciences from $4.60 to $3.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Finally, Piper Sandler dropped their target price 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.

Insider Buying and Selling at Sight Sciences

In other Sight Sciences news, CEO Paul Badawi sold 24,819 shares of Sight Sciences stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $2.92, for a total transaction of $72,471.48. Following the transaction, the chief executive officer now owns 5,676,331 shares of the company's stock, valued at $16,574,886.52. The trade was a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Manohar K. Raheja acquired 10,000 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $2.73 per share, with a total value of $27,300.00. Following the completion of the acquisition, the executive vice president now directly owns 145,000 shares of the company's stock, valued at approximately $395,850. This trade represents a 7.41 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 72,360 shares of company stock worth $187,792 over the last 90 days. Corporate insiders own 28.90% of the company's stock.

Institutional Trading of Sight Sciences

Several institutional investors and hedge funds have recently bought and sold shares of SGHT. ProShare Advisors LLC purchased a new position in Sight Sciences during the 4th quarter worth $36,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Sight Sciences during the fourth quarter worth about $40,000. Arkadios Wealth Advisors purchased a new position in shares of Sight Sciences during the fourth quarter worth about $47,000. WealthTrust Asset Management LLC acquired a new position in Sight Sciences in the 4th quarter valued at about $48,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Sight Sciences during the 4th quarter valued at approximately $50,000. Hedge funds and other institutional investors own 55.51% of the company's stock.

Sight Sciences Price Performance

Shares of NASDAQ:SGHT traded up $0.11 during midday trading on Thursday, hitting $2.52. The company had a trading volume of 100,351 shares, compared to its average volume of 209,135. Sight Sciences has a twelve month low of $2.03 and a twelve month high of $8.45. The stock has a market cap of $129.36 million, a price-to-earnings ratio of -2.47 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. The business's 50-day simple moving average is $2.57 and its 200-day simple moving average is $3.59.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last issued its earnings results on Wednesday, March 5th. The company reported ($0.23) earnings per share (EPS) 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%. The company had revenue of $19.07 million during the quarter, compared to analysts' expectations of $18.98 million. During the same quarter in the previous year, the company earned ($0.22) earnings per share. On average, research analysts predict that Sight Sciences will post -0.99 earnings per share for the current year.

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.