Citigroup Lowers Sight Sciences (NASDAQ:SGHT) Price Target to $3.00

Sight Sciences (NASDAQ:SGHT) had its price target cut by Citigroup from $4.60 to $3.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also recently issued reports about the company. Lake Street Capital reduced their price objective on Sight Sciences from $5.00 to $3.00 and set a “hold” rating for the company in a research report on Wednesday, January 15th. UBS Group reduced their price target on Sight Sciences from $5.50 to $5.00 and set a “buy” rating for the company in a research report on Monday, January 27th. Needham & Company LLC reissued a “hold” rating on shares of Sight Sciences in a research report on Tuesday, January 14th. Stifel Nicolaus reduced their price target on Sight Sciences from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, Morgan Stanley reduced their price target on Sight Sciences from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $3.83.

Sight Sciences Trading Up 2.9 %

SGHT stock opened at $2.49 on Tuesday. The company has a market cap of $126.38 million, a P/E ratio of -2.44 and a beta of 2.52. Sight Sciences has a twelve month low of $2.17 and a twelve month high of $8.45. The company has a quick ratio of 9.74, a current ratio of 10.18 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average of $2.92 and a 200-day moving average of $4.43.

Sight Sciences (NASDAQ:SGHT) last released its quarterly earnings data on Wednesday, March 5th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.01). The company 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 quarter in the prior year, the company posted ($0.22) EPS. As a group, equities research analysts expect that Sight Sciences will post -0.99 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Paul Badawi sold 24,819 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $2.92, for a total transaction of $72,471.48. Following the sale, the chief executive officer now owns 5,676,331 shares of the company’s stock, valued at $16,574,886.52. This trade represents a 0.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 63,014 shares of company stock worth $197,295 in the last 90 days. Company insiders own 28.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. KCK LTD. acquired a new position in Sight Sciences during the 4th quarter worth about $15,925,000. Barclays PLC raised its position in shares of Sight Sciences by 317.4% in the 3rd quarter. Barclays PLC now owns 50,300 shares of the company’s stock worth $317,000 after acquiring an additional 38,248 shares in the last quarter. Millrace Asset Group Inc. bought a new position in shares of Sight Sciences in the 3rd quarter worth about $874,000. Geode Capital Management LLC raised its position in shares of Sight Sciences by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 784,129 shares of the company’s stock worth $4,941,000 after acquiring an additional 12,709 shares in the last quarter. Finally, State Street Corp raised its position in shares of Sight Sciences by 17.4% in the 3rd quarter. State Street Corp now owns 646,776 shares of the company’s stock worth $4,075,000 after acquiring an additional 95,843 shares in the last quarter. 55.51% of the stock is 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.