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

Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) has been given an average rating of "Hold" by the six ratings firms that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $5.50.

SGHT has been the subject of several recent analyst reports. Lake Street Capital cut Sight Sciences from a "buy" rating to a "hold" rating and decreased their target price for the stock from $10.00 to $5.00 in a research note on Monday, November 4th. UBS Group began coverage on shares of Sight Sciences in a research report on Friday. They issued a "buy" rating and a $5.50 target price on the stock. Morgan Stanley reduced their price target on shares of Sight Sciences from $7.00 to $5.00 and set an "equal weight" rating for the company in a research report on Monday, November 11th. Piper Sandler reiterated a "neutral" rating and set a $5.50 target price (down previously from $6.00) on shares of Sight Sciences in a research report on Friday, November 8th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Sight Sciences in a report on Friday, November 8th.

Insider Transactions at Sight Sciences

In related news, insider Jeremy B. Hayden sold 4,878 shares of Sight Sciences stock in a transaction on Tuesday, October 1st. The shares were 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 in the company, valued at $964,816.96. This trade represents a 2.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Paul Badawi sold 12,727 shares of the company's stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $5.99, for a total transaction of $76,234.73. Following the transaction, the chief executive officer now owns 5,725,433 shares of the company's stock, valued at approximately $34,295,343.67. The trade was a 0.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 10,000 shares of company stock worth $38,982 and sold 97,357 shares worth $574,666. Insiders own 28.90% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SGHT. Barclays PLC increased its position in Sight Sciences by 317.4% during the 3rd quarter. Barclays PLC now owns 50,300 shares of the company's stock worth $317,000 after purchasing an additional 38,248 shares during the period. Geode Capital Management LLC grew its holdings in Sight Sciences by 1.6% during the third quarter. Geode Capital Management LLC now owns 784,129 shares of the company's stock worth $4,941,000 after acquiring an additional 12,709 shares during the period. State Street Corp raised its position in Sight Sciences by 17.4% in the third quarter. State Street Corp now owns 646,776 shares of the company's stock worth $4,075,000 after acquiring an additional 95,843 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings 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 valued at $1,310,000 after acquiring an additional 65,767 shares during the period. Finally, Millrace Asset Group Inc. purchased a new stake in shares of Sight Sciences during the 3rd quarter worth $874,000. 55.51% of the stock is currently owned by institutional investors and hedge funds.

Sight Sciences Stock Up 4.6 %

NASDAQ:SGHT traded up $0.17 during mid-day trading on Friday, hitting $3.87. The stock had a trading volume of 283,871 shares, compared to its average volume of 229,436. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36. Sight Sciences has a twelve month low of $2.58 and a twelve month high of $8.45. The company has a market capitalization of $196.44 million, a PE ratio of -3.79 and a beta of 2.58. The stock has a 50-day simple moving average of $4.87 and a two-hundred day simple moving average of $6.01.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.01. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. The business had revenue of $20.16 million during the quarter, compared to analysts' expectations of $20.41 million. On average, equities research analysts anticipate that Sight Sciences will post -1.01 EPS 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.