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

Sight Sciences (NASDAQ:SGHT - Get Free Report)'s stock had its "hold" rating reissued by research analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday, Benzinga reports.

Sight Sciences Stock Performance

SGHT stock traded down $0.14 on Wednesday, hitting $5.93. The company's stock had a trading volume of 190,936 shares, compared to its average volume of 233,319. The firm has a 50 day moving average of $4.66 and a two-hundred day moving average of $3.95. Sight Sciences has a 1 year low of $1.04 and a 1 year high of $11.20. The stock has a market cap of $293.83 million, a price-to-earnings ratio of -5.32 and a beta of 2.83. The company has a current ratio of 13.29, a quick ratio of 12.65 and a debt-to-equity ratio of 0.26.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last released its quarterly earnings results on Thursday, March 7th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.13. Sight Sciences had a negative net margin of 68.53% and a negative return on equity of 41.94%. The firm had revenue of $18.75 million during the quarter, compared to the consensus estimate of $18.70 million. During the same quarter in the prior year, the firm earned ($0.35) EPS. Equities analysts predict that Sight Sciences will post -1.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sight Sciences news, CEO Paul Badawi sold 15,917 shares of the company's stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $5.16, for a total transaction of $82,131.72. Following the completion of the transaction, the chief executive officer now owns 5,319,539 shares in the company, valued at approximately $27,448,821.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Sight Sciences news, COO Sam Boong Park sold 5,443 shares of the company's stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $5.16, for a total transaction of $28,085.88. Following the completion of the transaction, the chief operating officer now owns 100,735 shares in the company, valued at approximately $519,792.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Paul Badawi sold 15,917 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $27,448,821.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,441 shares of company stock worth $324,625. 27.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Sight Sciences

A number of large investors have recently bought and sold shares of SGHT. Vanguard Group Inc. grew its stake in shares of Sight Sciences by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 1,474,682 shares of the company's stock worth $7,609,000 after purchasing an additional 64,721 shares during the period. Palo Alto Investors LP acquired a new position in shares of Sight Sciences during the 4th quarter worth $897,000. Barclays PLC grew its stake in shares of Sight Sciences by 208.2% during the 4th quarter. Barclays PLC now owns 29,725 shares of the company's stock worth $153,000 after purchasing an additional 20,081 shares during the period. Voya Investment Management LLC acquired a new position in shares of Sight Sciences during the 4th quarter worth $186,000. Finally, Bridgeway Capital Management LLC acquired a new position in shares of Sight Sciences during the 4th quarter worth $626,000. Hedge funds and other institutional investors own 55.51% of the company's stock.

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.