Sight Sciences, Inc. (NASDAQ:SGHT) Receives $4.72 Average PT from Brokerages

Sight Sciences, Inc. (NASDAQ:SGHT) has been given a consensus rating of “Hold” by the six analysts that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $4.62.

Several equities research analysts have recently commented on the stock. Citigroup lowered their price objective on shares of Sight Sciences from $5.80 to $4.60 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Piper Sandler reissued a “neutral” rating and issued a $5.50 price objective (down from $6.00) on shares of Sight Sciences in a report on Friday, November 8th. UBS Group dropped their target price on Sight Sciences from $5.50 to $5.00 and set a “buy” rating on the stock in a research report on Monday. Lake Street Capital lowered their price target on shares of Sight Sciences from $5.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, January 15th. Finally, Morgan Stanley lowered their price target on shares of Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th.

Insider Buying and Selling at Sight Sciences

In other Sight Sciences news, CEO Paul Badawi sold 24,819 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $2.92, for a total value of $72,471.48. Following the completion of the sale, the chief executive officer now directly owns 5,676,331 shares in the company, valued at $16,574,886.52. This represents a 0.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders bought 15,000 shares of company stock valued at $58,232 and sold 63,014 shares valued at $197,295. Insiders own 28.90% of the company’s stock.

Hedge Funds Weigh In On Sight Sciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. KCK LTD. purchased a new stake in shares of Sight Sciences in the fourth quarter valued at approximately $15,925,000. Barclays PLC increased its stake in Sight Sciences by 317.4% during 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. Millrace Asset Group Inc. acquired a new position in Sight Sciences during the third quarter valued at approximately $874,000. Geode Capital Management LLC boosted its position in Sight Sciences by 1.6% during the 3rd 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 during the period. Finally, State Street Corp grew its stake in shares of Sight Sciences by 17.4% in the third quarter. State Street Corp now owns 646,776 shares of the company’s stock valued at $4,075,000 after buying an additional 95,843 shares in the last quarter. Hedge funds and other institutional investors own 55.51% of the company’s stock.

Sight Sciences Price Performance

NASDAQ SGHT opened at $2.92 on Friday. The firm’s fifty day simple moving average is $3.52 and its two-hundred day simple moving average is $5.25. The firm has a market capitalization of $148.20 million, a P/E ratio of -2.86 and a beta of 2.57. The company has a current ratio of 10.18, a quick ratio of 9.74 and a debt-to-equity ratio of 0.36. Sight Sciences has a 12-month low of $2.67 and a 12-month high of $8.45.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings results 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 analysts’ expectations of $20.41 million. Sight Sciences had a negative return on equity of 47.28% and a negative net margin of 63.30%. Analysts forecast that Sight Sciences will post -1.01 EPS for the current fiscal year.

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.