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

Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) has earned a consensus rating of "Hold" from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $4.10.

SGHT has been the subject of several research reports. Needham & Company LLC reiterated a "hold" rating on shares of Sight Sciences in a report on Wednesday, April 9th. Stifel Nicolaus dropped their target price on shares of Sight Sciences from $5.00 to $4.00 and set a "buy" rating for the company in a report on Thursday, March 6th. Citigroup reiterated a "neutral" rating and issued a $3.60 target price (up previously from $3.20) on shares of Sight Sciences in a report on Thursday, May 22nd. Lake Street Capital lifted their target price on shares of Sight Sciences from $2.50 to $3.00 and gave the company a "hold" rating in a report on Friday, May 9th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $4.00 target price (up previously from $3.50) on shares of Sight Sciences in a report on Wednesday, June 18th.

Sight Sciences Stock Up 6.9%

Shares of NASDAQ SGHT opened at $4.34 on Tuesday. The company has a 50 day simple moving average of $3.46 and a 200-day simple moving average of $3.10. The company has a market capitalization of $224.38 million, a P/E ratio of -4.43 and a beta of 2.46. The company has a debt-to-equity ratio of 0.51, a current ratio of 10.47 and a quick ratio of 9.99. Sight Sciences has a 1 year low of $2.03 and a 1 year high of $8.45.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.01. Sight Sciences had a negative net margin of 63.24% and a negative return on equity of 54.62%. The firm had revenue of $17.51 million during the quarter, compared to the consensus estimate of $16.51 million. On average, equities research analysts predict that Sight Sciences will post -0.99 earnings per share for the current year.

Insiders Place Their Bets

In other Sight Sciences news, CEO Paul Badawi sold 24,174 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $2.30, for a total transaction of $55,600.20. Following the sale, the chief executive officer now owns 6,010,580 shares in the company, valued at $13,824,334. This represents a 0.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 35,196 shares of company stock worth $81,001 in the last quarter. 28.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SGHT. ProShare Advisors LLC acquired a new position in shares of Sight Sciences during the 4th quarter worth about $36,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Sight Sciences during the 4th quarter worth about $40,000. WealthTrust Asset Management LLC acquired a new position in shares of Sight Sciences during the 4th quarter worth about $48,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Sight Sciences during the 4th quarter worth about $50,000. Finally, Wells Fargo & Company MN boosted its position in shares of Sight Sciences by 53.4% during the 4th quarter. Wells Fargo & Company MN now owns 16,600 shares of the company's stock worth $60,000 after acquiring an additional 5,781 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.

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