Sight Sciences, Inc. (NASDAQ:SGHT) Sees Large Decrease in Short Interest

Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,290,000 shares, a drop of 20.9% from the March 15th total of 1,630,000 shares. Currently, 4.9% of the shares of the stock are sold short. Based on an average daily volume of 215,100 shares, the short-interest ratio is currently 6.0 days.

Insider Activity at Sight Sciences

In other news, COO Sam Boong Park sold 5,443 shares of the business's stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $5.16, for a total value of $28,085.88. Following the transaction, the chief operating officer now directly owns 100,735 shares of the company's stock, valued at approximately $519,792.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Sight Sciences news, COO Sam Boong Park sold 5,443 shares of the firm's stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $5.16, for a total value of $28,085.88. Following the completion of the sale, the chief operating officer now owns 100,735 shares in the company, valued at approximately $519,792.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Paul Badawi sold 15,917 shares of the company's stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $5.16, for a total transaction of $82,131.72. Following the transaction, the chief executive officer now owns 5,319,539 shares in the company, valued at $27,448,821.24. The disclosure for this sale can be found here. Insiders sold 63,441 shares of company stock valued at $324,625 in the last ninety days. Insiders own 27.10% of the company's stock.

Hedge Funds Weigh In On Sight Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC bought a new position in Sight Sciences in the fourth quarter valued at approximately $54,000. FMR LLC raised its stake in Sight Sciences by 484.6% during the second quarter. FMR LLC now owns 4,864 shares of the company's stock worth $44,000 after acquiring an additional 4,032 shares in the last quarter. US Bancorp DE acquired a new position in Sight Sciences during the fourth quarter worth about $27,000. Cubist Systematic Strategies LLC bought a new position in shares of Sight Sciences in the third quarter worth about $37,000. Finally, Barclays PLC boosted its stake in shares of Sight Sciences by 540.7% in the 4th quarter. Barclays PLC now owns 5,850 shares of the company's stock valued at $72,000 after purchasing an additional 4,937 shares in the last quarter. 55.51% of the stock is currently owned by institutional investors and hedge funds.

Sight Sciences Stock Down 4.8 %

NASDAQ:SGHT traded down $0.29 during trading hours on Friday, reaching $5.81. 110,609 shares of the stock were exchanged, compared to its average volume of 183,673. The company has a debt-to-equity ratio of 0.26, a current ratio of 13.29 and a quick ratio of 12.65. Sight Sciences has a twelve month low of $1.04 and a twelve month high of $11.20. The firm has a 50 day moving average of $4.76 and a 200 day moving average of $4.01. The stock has a market cap of $287.90 million, a PE ratio of -5.10 and a beta of 2.83.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.22) EPS for the quarter, beating analysts' consensus estimates of ($0.35) by $0.13. The firm had revenue of $18.75 million during the quarter, compared to analysts' expectations of $18.70 million. Sight Sciences had a negative net margin of 68.53% and a negative return on equity of 41.94%. During the same quarter last year, the company posted ($0.35) earnings per share. On average, equities analysts expect that Sight Sciences will post -1.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reiterated a "hold" rating on shares of Sight Sciences in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, Sight Sciences presently has a consensus rating of "Hold" and a consensus target price of $4.60.

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.