Sight Sciences' (SGHT) "Hold" Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Sight Sciences (NASDAQ:SGHT - Free Report) in a research report sent to investors on Friday,Benzinga reports.

Several other research analysts have also recently issued reports on the company. Morgan Stanley lifted their target price on Sight Sciences from $5.40 to $6.50 and gave the company an "equal weight" rating in a research report on Monday, July 15th. Lake Street Capital downgraded shares of Sight Sciences from a "buy" rating to a "hold" rating and cut their price objective for the stock from $10.00 to $5.00 in a report on Monday. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Sight Sciences has an average rating of "Hold" and a consensus price target of $5.88.

Sight Sciences Stock Down 10.0 %

NASDAQ:SGHT traded down $0.47 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 quick ratio of 10.50, a current ratio of 11.01 and a debt-to-equity ratio of 0.33. Sight Sciences has a 52 week low of $1.58 and a 52 week high of $8.45. The business's fifty day moving average is $5.98 and its 200 day moving average is $6.25. The company has a market cap of $211.81 million, a PE ratio of -4.37 and a beta of 2.74.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, topping analysts' consensus estimates 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%. On average, equities research analysts expect that Sight Sciences will post -1 EPS for the current fiscal year.

Insider Buying and Selling at Sight Sciences

In other news, CEO Paul Badawi sold 12,727 shares of Sight Sciences 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 in the company, valued at $34,295,343.67. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Paul Badawi sold 12,727 shares of Sight Sciences stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $5.99, for a total value of $76,234.73. Following the sale, 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Matthew Link sold 21,831 shares of the company's stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $5.61, for a total value of $122,471.91. Following the completion of the transaction, the insider now owns 663,550 shares in the company, valued at approximately $3,722,515.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,357 shares of company stock worth $574,666 in the last quarter. 28.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sight Sciences

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in 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 period. Long Focus Capital Management LLC boosted its holdings 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 worth $3,739,000 after buying an additional 260,594 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in Sight Sciences by 25.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 377,057 shares of the company's stock valued at $1,991,000 after buying an additional 76,549 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in Sight Sciences in the 2nd quarter valued at approximately $1,234,000. Finally, Bank of New York Mellon Corp raised its holdings in Sight Sciences by 70.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 102,461 shares of the company's stock valued at $683,000 after acquiring an additional 42,383 shares during the period. Hedge funds and other institutional investors own 55.51% of the company's stock.

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.