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

Sight Sciences (NASDAQ:SGHT - Get Free Report)'s stock had its "hold" rating reaffirmed by research analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports.

Several other research firms also recently commented on SGHT. Morgan Stanley dropped their price objective on shares of Sight Sciences from $7.00 to $5.00 and set an "equal weight" rating on the stock in a research report on Monday, November 11th. Citigroup cut their price objective on shares of Sight Sciences from $4.60 to $3.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. UBS Group lowered their price objective on Sight Sciences from $5.50 to $5.00 and set a "buy" rating on the stock in a research note on Monday, January 27th. Lake Street Capital decreased their price target on Sight Sciences from $5.00 to $3.00 and set a "hold" rating on the stock in a research report on Wednesday, January 15th. Finally, Stifel Nicolaus cut their price objective on shares of Sight Sciences from $6.00 to $5.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $3.83.

Sight Sciences Stock Up 3.8 %

Shares of NASDAQ SGHT traded up $0.09 during mid-day trading on Thursday, hitting $2.45. The company had a trading volume of 679,174 shares, compared to its average volume of 271,457. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36. The firm has a 50-day simple moving average of $2.90 and a two-hundred day simple moving average of $4.38. The company has a market capitalization of $124.35 million, a PE ratio of -2.40 and a beta of 2.52. Sight Sciences has a one year low of $2.17 and a one year high of $8.45.

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Sight Sciences (NASDAQ:SGHT - Get Free Report) last released its earnings results on Wednesday, March 5th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.01). The firm had revenue of $19.07 million during the quarter, compared to the consensus estimate 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 period in the prior year, the business posted ($0.22) earnings per share. On average, equities analysts expect that Sight Sciences will post -0.99 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Paul Badawi sold 12,236 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.60, for a total transaction of $44,049.60. Following the transaction, the chief executive officer now owns 5,713,197 shares of the company's stock, valued at $20,567,509.20. This represents a 0.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 63,014 shares of company stock valued at $197,295. Corporate insiders own 28.90% of the company's stock.

Institutional Trading of Sight Sciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. grew its stake in shares of Sight Sciences by 10.7% during the fourth quarter. American Century Companies Inc. now owns 51,564 shares of the company's stock valued at $188,000 after buying an additional 4,964 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Sight Sciences by 47.6% in the fourth quarter. SG Americas Securities LLC now owns 17,622 shares of the company's stock worth $64,000 after buying an additional 5,681 shares during the period. Wells Fargo & Company MN raised its stake in shares of Sight Sciences by 53.4% during the fourth quarter. Wells Fargo & Company MN now owns 16,600 shares of the company's stock valued at $60,000 after acquiring an additional 5,781 shares during the last quarter. Barclays PLC grew its position in shares of Sight Sciences by 11.9% in the 4th quarter. Barclays PLC now owns 56,294 shares of the company's stock worth $205,000 after buying an additional 5,994 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Sight Sciences by 2.1% in the fourth quarter. Northern Trust Corp now owns 332,491 shares of the company's stock valued at $1,210,000 after acquiring an additional 6,727 shares in the last quarter. Hedge funds and other institutional investors own 55.51% of the company's stock.

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.