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

Key Points

• Sight Sciences, Inc. has a consensus recommendation of "Hold" from seven ratings firms, with four analysts recommending a hold and three a buy.
• The stock is currently trading at $4.25, with an average one-year target price of $4.27 set by analysts.
• In recent insider trading, CEO Paul Badawi sold 23,637 shares of stock, reducing his holdings by 0.39%.

Shares of Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) have earned a consensus recommendation of "Hold" from the seven ratings firms that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $4.2667.

Several brokerages have recently weighed in on SGHT. Piper Sandler reaffirmed a "neutral" rating and set a $4.00 target price (up from $3.50) on shares of Sight Sciences in a research note on Wednesday, June 18th. Lake Street Capital upgraded Sight Sciences from a "hold" rating to a "buy" rating and raised their price objective for the company from $3.00 to $5.00 in a report on Friday, August 8th. Citigroup reaffirmed a "neutral" rating and set a $3.60 target price (up previously from $3.20) on shares of Sight Sciences in a report on Thursday, May 22nd. Wall Street Zen raised shares of Sight Sciences from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Morgan Stanley boosted their price target on shares of Sight Sciences from $3.00 to $4.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th.

Sight Sciences Trading Up 3.2%

Shares of SGHT stock opened at $4.25 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 10.01 and a quick ratio of 9.49. The company has a market cap of $222.57 million, a price-to-earnings ratio of -4.43 and a beta of 2.44. The stock has a 50 day simple moving average of $3.86 and a 200-day simple moving average of $3.19. Sight Sciences has a 1-year low of $2.03 and a 1-year high of $7.05.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.02. The business had revenue of $19.56 million during the quarter, compared to the consensus estimate of $18.18 million. Sight Sciences had a negative return on equity of 59.38% and a negative net margin of 64.23%. On average, equities research analysts expect that Sight Sciences will post -0.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sight Sciences news, CEO Paul Badawi sold 23,637 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $4.15, for a total value of $98,093.55. Following the completion of the sale, the chief executive officer directly owned 5,986,943 shares of the company's stock, valued at $24,845,813.45. This trade represents a 0.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeremy B. Hayden sold 9,160 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $4.17, for a total value of $38,197.20. Following the completion of the sale, the insider directly owned 266,321 shares of the company's stock, valued at $1,110,558.57. This trade represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,365 shares of company stock valued at $180,017 over the last ninety days. Corporate insiders own 28.90% of the company's stock.

Institutional Trading of Sight Sciences

A number of hedge funds and other institutional investors have recently modified their holdings of SGHT. CWM LLC increased its stake in shares of Sight Sciences by 70.2% in the 2nd quarter. CWM LLC now owns 7,607 shares of the company's stock worth $31,000 after acquiring an additional 3,137 shares during the last quarter. ProShare Advisors LLC acquired a new stake in shares of Sight Sciences in the 4th quarter worth $36,000. Bank of Montreal Can acquired a new stake in shares of Sight Sciences in the 2nd quarter worth $49,000. Wells Fargo & Company MN grew its holdings 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 purchasing an additional 5,781 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of Sight Sciences by 38.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,888 shares of the company's stock worth $66,000 after purchasing an additional 4,453 shares during the period. 55.51% of the stock is owned by institutional investors and hedge funds.

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.

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