Piper Sandler reissued their neutral rating on shares of Sight Sciences (NASDAQ:SGHT - Free Report) in a research report released on Friday morning,Benzinga reports. The firm currently has a $5.50 target price on the stock, down from their prior target price of $6.00.
Several other equities research analysts have also recently weighed in on SGHT. Lake Street Capital cut Sight Sciences from a "buy" rating to a "hold" rating and dropped their target price for the company from $10.00 to $5.00 in a report on Monday. Morgan Stanley lifted their target price on shares of Sight Sciences from $5.40 to $6.50 and gave the stock an "equal weight" rating in a research note on Monday, July 15th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Sight Sciences in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Sight Sciences presently has an average rating of "Hold" and an average target price of $5.88.
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Sight Sciences Price Performance
SGHT traded down $0.47 during midday trading on Friday, hitting $4.21. The stock had a trading volume of 444,569 shares, compared to its average volume of 198,729. The company has a market cap of $211.81 million, a P/E ratio of -4.37 and a beta of 2.74. Sight Sciences has a 1 year low of $1.58 and a 1 year high of $8.45. The business has a fifty day moving average of $5.98 and a 200 day moving average of $6.25. The company has a debt-to-equity ratio of 0.33, a quick ratio of 10.50 and a current ratio of 11.01.
Sight Sciences (NASDAQ:SGHT - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.01. The company had revenue of $20.16 million for the quarter, compared to analyst estimates of $20.41 million. Sight Sciences had a negative net margin of 65.90% and a negative return on equity of 45.68%. As a group, equities analysts forecast that Sight Sciences will post -1 earnings per share for the current fiscal year.
Insider Transactions at Sight Sciences
In related news, insider Matthew Link sold 21,831 shares of Sight Sciences stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $5.61, for a total transaction of $122,471.91. Following the sale, the insider now directly owns 663,550 shares in the company, valued at $3,722,515.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Paul Badawi sold 12,727 shares of Sight Sciences stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $5.99, for a total transaction of $76,234.73. Following the completion of the transaction, the chief executive officer now directly owns 5,725,433 shares of the company's stock, valued at $34,295,343.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Matthew Link sold 21,831 shares of the company's stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $5.61, for a total transaction of $122,471.91. Following the completion of the sale, the insider now owns 663,550 shares in the company, valued at approximately $3,722,515.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,357 shares of company stock valued at $574,666. Company insiders own 28.90% of the company's stock.
Hedge Funds Weigh In On Sight Sciences
Several large investors have recently made changes to their positions in SGHT. Steele Capital Management Inc. purchased a new position in Sight Sciences during the second quarter valued at $67,000. State Board of Administration of Florida Retirement System bought a new position in Sight Sciences in the 1st quarter worth about $59,000. SG Americas Securities LLC purchased a new stake in Sight Sciences during the 3rd quarter valued at about $75,000. The Manufacturers Life Insurance Company purchased a new position in Sight Sciences in the second quarter worth about $95,000. Finally, GSA Capital Partners LLP bought a new position in shares of Sight Sciences in the third quarter worth approximately $136,000. 55.51% of the stock is currently owned by hedge funds and other institutional investors.
About Sight Sciences
(
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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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