Sight Sciences, Inc. (NASDAQ:SGHT) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analysts rate Sight Sciences “Hold” on average: Five analysts recommend buying, three recommend holding, and one recommends selling. The average 12-month price target is $7.88, below the stock’s reported $8.26 opening price.
• Quarterly results exceeded expectations: Sight Sciences reported a loss of $0.08 per share versus the expected $0.18 loss, while revenue of $23.39 million topped estimates of $21.72 million. The company remains unprofitable, with a negative net margin of 35.69%.
• Insiders have been selling shares: Company insiders sold 58,566 shares valued at approximately $318,827 over the past quarter, while insiders retain a 30.40% ownership stake.

Shares of Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) have been assigned an average rating of "Hold" from the nine research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $7.8750.

A number of research analysts have recently weighed in on SGHT shares. Citigroup restated a "neutral" rating on shares of Sight Sciences in a research report on Thursday, August 13th. UBS Group increased their price target on Sight Sciences from $7.00 to $8.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Wall Street Zen upgraded Sight Sciences from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Sight Sciences in a research note on Friday, August 7th.

Sight Sciences Trading Up 1.3%

Sight Sciences stock opened at $8.26 on Friday. The stock has a market cap of $455.04 million, a P/E ratio of -14.75 and a beta of 2.38. The company has a debt-to-equity ratio of 0.58, a current ratio of 4.95 and a quick ratio of 4.67. Sight Sciences has a 1 year low of $3.19 and a 1 year high of $9.24. The firm's 50 day moving average price is $5.94 and its 200-day moving average price is $5.06.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.08) earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $0.10. The firm had revenue of $23.39 million during the quarter, compared to analyst estimates of $21.72 million. Sight Sciences had a negative net margin of 35.69% and a negative return on equity of 43.39%. On average, equities analysts predict that Sight Sciences will post -0.56 earnings per share for the current fiscal year.

Insider Transactions at Sight Sciences

In related news, CFO James Rodberg sold 6,902 shares of the business's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $5.36, for a total value of $36,994.72. Following the sale, the chief financial officer owned 224,037 shares in the company, valued at approximately $1,200,838.32. The trade was a 2.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeremy B. Hayden sold 12,733 shares of the company's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $5.51, for a total transaction of $70,158.83. Following the sale, the insider directly owned 357,037 shares in the company, valued at approximately $1,967,273.87. The trade was a 3.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 58,566 shares of company stock valued at $318,827 over the last quarter. 30.40% of the stock is owned by insiders.

Institutional Trading of Sight Sciences

A number of large investors have recently made changes to their positions in the business. Conquis Financial LLC purchased a new stake in shares of Sight Sciences during the 2nd quarter valued at about $27,000. BNP Paribas Financial Markets grew its position in Sight Sciences by 99.8% in the third quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company's stock worth $26,000 after acquiring an additional 3,785 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in Sight Sciences during the fourth quarter worth approximately $81,000. The Manufacturers Life Insurance Company bought a new stake in Sight Sciences during the second quarter worth approximately $60,000. Finally, AXQ Capital LP purchased a new stake in Sight Sciences during the fourth quarter valued at approximately $89,000. 55.51% of the stock is currently owned by institutional investors.

Sight Sciences Company Profile

Sight Sciences, Inc is a medical device company focused on developing and commercializing minimally invasive treatments for chronic eye diseases. The company's flagship products include the OMNI® Surgical System, designed to address multiple points of resistance in the eye's natural drainage pathways to lower intraocular pressure in glaucoma patients, and the TearCare® System, a wearable device for treating meibomian gland dysfunction and dry eye disease through targeted thermal pulsation therapy.

Since its founding in 2012 and subsequent listing on the NASDAQ under the ticker SGHT, Sight Sciences has pursued a strategy of combining research-driven product development with a direct sales force model.

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