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

Shares of Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) have been assigned an average recommendation of "Hold" from the seven analysts that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $3.93.

Several equities research analysts have issued reports on the company. Citigroup restated a "neutral" rating and set a $3.60 target price (up previously from $3.20) on shares of Sight Sciences in a research report on Thursday, May 22nd. Morgan Stanley increased their target price on Sight Sciences from $3.00 to $4.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 15th. Lake Street Capital upped their price target on shares of Sight Sciences from $2.50 to $3.00 and gave the stock a "hold" rating in a report on Friday, May 9th. Piper Sandler reaffirmed a "neutral" rating and issued a $4.00 price target (up previously from $3.50) on shares of Sight Sciences in a report on Wednesday, June 18th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Sight Sciences in a report on Wednesday, April 9th.

Sight Sciences Stock Down 1.1%

Sight Sciences stock traded down $0.04 during midday trading on Friday, reaching $3.50. The stock had a trading volume of 80,708 shares, compared to its average volume of 207,279. Sight Sciences has a 12 month low of $2.03 and a 12 month high of $8.45. The company has a market capitalization of $180.94 million, a P/E ratio of -3.57 and a beta of 2.47. The company has a fifty day moving average price of $3.80 and a two-hundred day moving average price of $3.13. The company has a current ratio of 10.47, a quick ratio of 9.99 and a debt-to-equity ratio of 0.51.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.28) EPS for the quarter, topping analysts' consensus estimates of ($0.29) by $0.01. The firm had revenue of $17.51 million during the quarter, compared to analyst estimates of $16.51 million. Sight Sciences had a negative return on equity of 54.62% and a negative net margin of 63.24%. As a group, equities analysts expect that Sight Sciences will post -0.99 EPS for the current fiscal year.

Insider Activity at Sight Sciences

In other Sight Sciences news, CEO Paul Badawi sold 23,637 shares of Sight Sciences stock in a transaction that occurred on Tuesday, July 1st. The shares were 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 owned 5,986,943 shares of the company's stock, valued at approximately $24,845,813.45. The trade was a 0.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeremy B. Hayden sold 9,160 shares of Sight Sciences stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $4.17, for a total transaction of $38,197.20. Following the completion of the sale, the insider directly owned 266,321 shares of the company's stock, valued at approximately $1,110,558.57. This trade represents a 3.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,365 shares of company stock valued at $180,017 in the last three months. 30.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Sight Sciences

Hedge funds have recently modified their holdings of the business. Palumbo Wealth Management LLC purchased a new position in shares of Sight Sciences during the 2nd quarter valued at $328,000. KCK LTD. purchased a new position in shares of Sight Sciences during the 2nd quarter valued at $18,069,000. Rhumbline Advisers lifted its stake in Sight Sciences by 9.5% in the 1st quarter. Rhumbline Advisers now owns 49,797 shares of the company's stock worth $120,000 after purchasing an additional 4,319 shares in the last quarter. Strs Ohio purchased a new stake in Sight Sciences in the 1st quarter worth $158,000. Finally, Acadian Asset Management LLC lifted its stake in Sight Sciences by 127.7% in the 1st quarter. Acadian Asset Management LLC now owns 432,541 shares of the company's stock worth $1,033,000 after purchasing an additional 242,559 shares in the last quarter. 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.