UBS Group began coverage on shares of Sight Sciences (NASDAQ:SGHT - Free Report) in a research note published on Friday, MarketBeat Ratings reports. The firm issued a buy rating and a $5.50 price target on the stock.
Other analysts have also issued research reports about the company. Morgan Stanley dropped their price objective on Sight Sciences from $7.00 to $5.00 and set an "equal weight" rating on the stock in a research note on Monday, November 11th. Needham & Company LLC restated a "hold" rating on shares of Sight Sciences in a research note on Friday, November 8th. Lake Street Capital cut shares of Sight Sciences from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $10.00 to $5.00 in a research report on Monday, November 4th. Finally, Piper Sandler reissued a "neutral" rating and issued a $5.50 price objective (down from $6.00) on shares of Sight Sciences in a research report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $5.50.
Read Our Latest Stock Report on Sight Sciences
Sight Sciences Stock Up 4.6 %
Shares of NASDAQ:SGHT traded up $0.17 during midday 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 market cap of $196.44 million, a P/E ratio of -3.79 and a beta of 2.58. Sight Sciences has a 12 month low of $2.58 and a 12 month high of $8.45. The business's 50-day simple moving average is $4.87 and its 200-day simple moving average is $6.01. The company has a quick ratio of 9.74, a current ratio of 10.18 and a debt-to-equity ratio of 0.36.
Sight Sciences (NASDAQ:SGHT - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, beating analysts' consensus estimates of ($0.23) by $0.01. The company had revenue of $20.16 million during the quarter, compared to the consensus estimate of $20.41 million. Sight Sciences had a negative net margin of 63.30% and a negative return on equity of 47.28%. On average, sell-side analysts forecast that Sight Sciences will post -1.01 earnings per share for the current fiscal year.
Insider Buying and Selling at Sight Sciences
In other news, CEO Paul Badawi sold 12,727 shares of the 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 sale, the chief executive officer now directly owns 5,725,433 shares of the company's stock, valued at approximately $34,295,343.67. This represents a 0.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Alison Bauerlein sold 10,130 shares of the firm's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $6.08, for a total transaction of $61,590.40. Following the completion of the transaction, the chief financial officer now directly owns 392,555 shares in the company, valued at approximately $2,386,734.40. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 10,000 shares of company stock valued at $38,982 and have sold 97,357 shares valued at $574,666. Insiders own 28.90% of the company's stock.
Institutional Investors Weigh In On Sight Sciences
A number of hedge funds have recently made changes to their positions in the stock. Long Focus Capital Management LLC lifted its stake in Sight Sciences by 86.9% in the 2nd quarter. Long Focus Capital Management LLC now owns 560,594 shares of the company's stock valued at $3,739,000 after purchasing an additional 260,594 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Sight Sciences during the 2nd quarter worth $1,234,000. Millrace Asset Group Inc. bought a new position in Sight Sciences in the third quarter valued at about $874,000. State Street Corp boosted its stake in shares of Sight Sciences by 17.4% during the third quarter. State Street Corp now owns 646,776 shares of the company's stock valued at $4,075,000 after purchasing an additional 95,843 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Sight Sciences by 5.5% during the first quarter. Vanguard Group Inc. now owns 1,556,450 shares of the company's stock worth $8,218,000 after purchasing an additional 81,768 shares during the last quarter. 55.51% of the stock is currently owned by institutional investors and hedge funds.
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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