Sight Sciences, Inc. (NASDAQ:SGHT) Receives Consensus Rating of "Hold" from Analysts

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 received an average recommendation of "Hold" from the seven research firms that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $4.2667.

A number of research analysts recently weighed in on SGHT shares. Citigroup restated a "neutral" rating and issued a $3.60 price objective (up previously from $3.20) on shares of Sight Sciences in a report on Thursday, May 22nd. Morgan Stanley lifted their price objective on shares of Sight Sciences from $3.00 to $4.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. Lake Street Capital upgraded shares of Sight Sciences from a "hold" rating to a "buy" rating and boosted their price target for the stock from $3.00 to $5.00 in a report on Friday, August 8th. Wall Street Zen upgraded shares of Sight Sciences from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Piper Sandler reiterated a "neutral" rating and set a $4.00 price target (up previously from $3.50) on shares of Sight Sciences in a report on Wednesday, June 18th.

Sight Sciences Stock Down 1.2%

Shares of SGHT stock traded down $0.05 during trading on Wednesday, reaching $4.20. The company's stock had a trading volume of 98,085 shares, compared to its average volume of 128,461. 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 capitalization of $219.95 million, a price-to-earnings ratio of -4.37 and a beta of 2.44. The stock's 50-day moving average price is $3.86 and its 200 day moving average price is $3.22. 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 quarterly earnings data on Thursday, August 7th. The company reported ($0.23) earnings per share for the quarter, beating analysts' consensus estimates of ($0.25) by $0.02. The firm had revenue of $19.56 million during the quarter, compared to analysts' expectations of $18.18 million. Sight Sciences had a negative net margin of 64.23% and a negative return on equity of 59.38%. On average, research analysts anticipate that Sight Sciences will post -0.99 EPS for the current year.

Insider Activity at Sight Sciences

In other news, insider Jeremy B. Hayden sold 9,160 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $4.17, for a total transaction of $38,197.20. Following the completion of the sale, the insider owned 266,321 shares in the company, valued at approximately $1,110,558.57. The trade was a 3.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paul Badawi sold 23,637 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $4.15, for a total transaction of $98,093.55. Following the sale, the chief executive officer owned 5,986,943 shares of the company's stock, valued at $24,845,813.45. This represents a 0.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,365 shares of company stock valued at $180,017 in the last quarter. 30.90% of the stock is currently owned by company insiders.

Institutional Trading of Sight Sciences

Several institutional investors have recently modified their holdings of SGHT. Tower Research Capital LLC TRC raised its position in Sight Sciences by 32.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company's stock valued at $48,000 after purchasing an additional 2,875 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Sight Sciences during the 2nd quarter worth $148,000. B Group Inc. grew its stake in shares of Sight Sciences by 11.6% during the 2nd quarter. B Group Inc. now owns 930,000 shares of the company's stock worth $3,841,000 after purchasing an additional 96,400 shares during the period. Panagora Asset Management Inc. acquired a new position in shares of Sight Sciences during the 2nd quarter worth $132,000. Finally, XTX Topco Ltd acquired a new position in shares of Sight Sciences during the 2nd quarter worth $67,000. 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.