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

Shares of Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) have been assigned an average rating of "Hold" from the seven research firms that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $3.83.

SGHT has been the subject of a number of research reports. Lake Street Capital dropped their price target on Sight Sciences from $3.00 to $2.50 and set a "hold" rating for the company in a research note on Thursday, March 6th. Needham & Company LLC reiterated a "hold" rating on shares of Sight Sciences in a research report on Thursday, March 6th. Stifel Nicolaus reduced their price target on Sight Sciences from $5.00 to $4.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. UBS Group dropped their price objective on shares of Sight Sciences from $5.50 to $5.00 and set a "buy" rating for the company in a report on Monday, January 27th. Finally, Citigroup cut their target price on shares of Sight Sciences from $4.60 to $3.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th.

Sight Sciences Price Performance

Shares of SGHT stock traded up $0.14 on Friday, hitting $3.02. 165,530 shares of the company's stock were exchanged, compared to its average volume of 272,343. Sight Sciences has a 12 month low of $2.17 and a 12 month high of $8.45. 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 company has a 50 day moving average of $2.78 and a 200 day moving average of $4.18. The stock has a market cap of $155.13 million, a P/E ratio of -2.94 and a beta of 2.52.

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Sight Sciences (NASDAQ:SGHT - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The company reported ($0.23) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.01). The company had revenue of $19.07 million during the quarter, compared to analyst estimates of $18.98 million. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. During the same quarter in the previous year, the business posted ($0.22) earnings per share. On average, equities research analysts predict that Sight Sciences will post -0.99 EPS for the current year.

Insiders Place Their Bets

In other Sight Sciences news, CEO Paul Badawi sold 12,236 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.60, for a total transaction 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 trade represents a 0.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Manohar K. Raheja acquired 10,000 shares of the stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $2.73 per share, with a total value of $27,300.00. Following the completion of the transaction, the executive vice president now owns 145,000 shares in the company, valued at approximately $395,850. This represents a 7.41 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 63,014 shares of company stock worth $197,295. 28.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sight Sciences

A number of hedge funds have recently added to or reduced their stakes in SGHT. B. Riley Wealth Advisors Inc. grew its position in shares of Sight Sciences by 24.6% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 243,082 shares of the company's stock worth $885,000 after buying an additional 48,000 shares during the period. Squarepoint Ops LLC grew its holdings in Sight Sciences by 314.2% in the fourth quarter. Squarepoint Ops LLC now owns 169,211 shares of the company's stock worth $616,000 after purchasing an additional 128,355 shares during the period. ProShare Advisors LLC bought a new stake in Sight Sciences in the fourth quarter valued at $36,000. Prosight Management LP raised its holdings in shares of Sight Sciences by 71.1% during the fourth quarter. Prosight Management LP now owns 908,847 shares of the company's stock valued at $3,308,000 after purchasing an additional 377,625 shares during the period. Finally, Millennium Management LLC bought a new position in shares of Sight Sciences during the 4th quarter worth about $464,000. 55.51% of the stock is currently owned by 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.