Sight Sciences (NASDAQ:SGHT) Earns Hold Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Sight Sciences (NASDAQ:SGHT - Free Report) in a report issued on Tuesday,Benzinga reports.

A number of other brokerages also recently commented on SGHT. Morgan Stanley decreased 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. Piper Sandler reissued a "neutral" rating and set a $5.50 price target (down previously from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. Lake Street Capital downgraded shares of Sight Sciences from a "buy" rating to a "hold" rating and cut their price objective for the company from $10.00 to $5.00 in a research report on Monday, November 4th. Citigroup decreased their price objective on Sight Sciences from $5.80 to $4.60 and set a "neutral" rating for the company in a report on Wednesday, December 11th. Finally, UBS Group initiated coverage on Sight Sciences in a research note on Friday, December 6th. They set a "buy" rating and a $5.50 target price on the stock. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $5.12.

Sight Sciences Stock Down 2.8 %

Shares of NASDAQ SGHT traded down $0.09 during midday trading on Tuesday, reaching $3.15. 199,375 shares of the company's stock were exchanged, compared to its average volume of 224,134. The stock has a market capitalization of $159.88 million, a PE ratio of -3.09 and a beta of 2.57. Sight Sciences has a 52-week low of $3.15 and a 52-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 business's fifty day moving average price is $3.76 and its two-hundred day moving average price is $5.47.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) 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 for the quarter, compared to analysts' expectations of $20.41 million. Analysts forecast that Sight Sciences will post -1.01 EPS for the current year.

Insider Buying and Selling at Sight Sciences

In other Sight Sciences news, CEO Paul Badawi sold 12,236 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $3.60, for a total value of $44,049.60. Following the sale, the chief executive officer now directly owns 5,713,197 shares in the company, valued at $20,567,509.20. This trade represents a 0.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Matthew Link sold 20,487 shares of the firm's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $5.98, for a total value of $122,512.26. Following the completion of the sale, the insider now owns 685,381 shares of the company's stock, valued at $4,098,578.38. This represents a 2.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 15,000 shares of company stock worth $58,232 and have sold 88,902 shares worth $458,027. Company insiders own 28.90% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Sight Sciences by 335.3% during the third quarter. JPMorgan Chase & Co. now owns 69,660 shares of the company's stock valued at $439,000 after acquiring an additional 53,658 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in Sight Sciences by 5.4% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 195,082 shares of the company's stock worth $1,174,000 after buying an additional 10,000 shares in the last quarter. Barclays PLC raised its stake in shares of Sight Sciences by 317.4% in the third quarter. Barclays PLC now owns 50,300 shares of the company's stock worth $317,000 after acquiring an additional 38,248 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of 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 purchasing an additional 12,709 shares in the last quarter. Finally, State Street Corp grew 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 during the last quarter. 55.51% of the stock is currently owned by institutional investors and hedge funds.

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.