Sight Sciences (NASDAQ:SGHT) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Sight Sciences from “Buy” to “Hold.” Analyst views remain mixed: five rate it Buy, two Hold, and one Sell, with an average price target of $10.31.
• Other recent analyst actions were more positive: UBS raised its target to $13.50 and maintained a Buy rating, while HC Wainwright initiated coverage with a Buy rating and a $14 target.
• Sight Sciences reported quarterly revenue of $24.92 million, above the $23.55 million consensus, and an adjusted loss per share of $0.12, in line with estimates.

Sight Sciences (NASDAQ:SGHT - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

SGHT has been the subject of several other reports. UBS Group boosted their price objective on Sight Sciences from $8.00 to $13.50 and gave the stock a "buy" rating in a report on Thursday. Weiss Ratings restated a "sell (e+)" rating on shares of Sight Sciences in a research report on Wednesday, November 4th. HC Wainwright started coverage on shares of Sight Sciences in a research note on Thursday, October 15th. They issued a "buy" rating and a $14.00 target price on the stock. Citigroup raised their target price on shares of Sight Sciences from $8.00 to $10.00 and gave the company a "neutral" rating in a research note on Monday, October 5th. Finally, Piper Sandler reiterated an "overweight" rating and set a $12.00 price target (up from $9.00) on shares of Sight Sciences in a research report on Thursday, November 5th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $10.31.

Sight Sciences Stock Down 1.5%

Shares of SGHT opened at $10.83 on Friday. The business's fifty day moving average price is $8.97 and its two-hundred day moving average price is $6.20. The firm has a market capitalization of $601.93 million, a price-to-earnings ratio of -20.83 and a beta of 2.44. Sight Sciences has a 52 week low of $3.38 and a 52 week high of $11.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 4.72 and a current ratio of 5.04.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last released its earnings results on Wednesday, November 4th. The company reported ($0.12) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.12). Sight Sciences had a negative return on equity of 43.91% and a negative net margin of 32.13%. The company had revenue of $24.92 million during the quarter, compared to the consensus estimate of $23.55 million. On average, analysts predict that Sight Sciences will post -0.48 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Brenton Taylor sold 2,988 shares of the firm's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $8.85, for a total value of $26,443.80. Following the transaction, the executive vice president directly owned 261,990 shares in the company, valued at $2,318,611.50. This trade represents a 1.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO James Rodberg sold 7,208 shares of Sight Sciences stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $8.85, for a total value of $63,790.80. Following the sale, the chief financial officer directly owned 216,829 shares of the company's stock, valued at approximately $1,918,936.65. This trade represents a 3.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 47,646 shares of company stock worth $429,157. Company insiders own 30.40% of the company's stock.

Hedge Funds Weigh In On Sight Sciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SGHT. Empowered Funds LLC acquired a new position in shares of Sight Sciences during the 3rd quarter worth about $618,000. Palumbo Wealth Management LLC increased its stake in shares of Sight Sciences by 3.8% in the 3rd quarter. Palumbo Wealth Management LLC now owns 133,394 shares of the company's stock valued at $1,249,000 after acquiring an additional 4,858 shares during the last quarter. Ieq Capital LLC raised its position in shares of Sight Sciences by 7.3% in the 3rd quarter. Ieq Capital LLC now owns 26,635 shares of the company's stock valued at $249,000 after acquiring an additional 1,803 shares during the period. Royce & Associates LP acquired a new stake in shares of Sight Sciences in the 3rd quarter valued at approximately $1,676,000. Finally, Diversified Trust Co raised its position in shares of Sight Sciences by 27.3% in the 3rd quarter. Diversified Trust Co now owns 18,989 shares of the company's stock valued at $178,000 after acquiring an additional 4,068 shares during the period. Institutional investors own 55.51% of the company's stock.

Sight Sciences Company Profile

Sight Sciences is a medical technology company that develops and commercializes devices for ophthalmic care, with a focus on glaucoma and dry eye disease. Its products are designed to support minimally invasive procedures and address underlying causes of these conditions. The company's portfolio includes the OMNI Surgical System, used in procedures to reduce eye pressure in patients with glaucoma, and TearCare, a device-based treatment for evaporative dry eye associated with meibomian gland dysfunction.

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