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

Key Points

• Analysts rate Sight Sciences “Hold” overall: Of nine analysts, five recommend buying, three recommend holding and one recommends selling. The average 12-month price target is $7.75, versus a recent share price of $5.30.
• Recent coverage was mixed: UBS initiated the stock with a “Buy” rating and a $7.00 target, while Citigroup maintained a “Neutral” rating and raised its target to $6.00. Weiss Ratings downgraded the stock further within its “Sell” category.
• Sight Sciences reported quarterly revenue of $19.7 million, above estimates, but its adjusted loss of $0.24 per share missed expectations. Insiders sold 58,566 shares worth about $318,827 over the past 90 days, while institutional investors and hedge funds own 55.51% of the company.

Shares of Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) have received a consensus recommendation of "Hold" from the nine analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $7.75.

A number of analysts have recently issued reports on SGHT shares. UBS Group started coverage on shares of Sight Sciences in a research report on Tuesday. They issued a "buy" rating and a $7.00 price target for the company. Citigroup boosted their price objective on shares of Sight Sciences from $5.15 to $6.00 and gave the company a "neutral" rating in a research report on Wednesday, July 8th. Finally, Weiss Ratings lowered shares of Sight Sciences from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, May 11th.

Insider Activity at Sight Sciences

In other 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 transaction of $36,994.72. Following the transaction, the chief financial officer directly owned 224,037 shares in the company, valued at $1,200,838.32. The trade was a 2.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jeremy B. Hayden sold 12,733 shares of the company's stock in a transaction on Monday, July 6th. The stock was sold at an average price of $5.51, for a total transaction of $70,158.83. Following the completion of the transaction, the insider directly owned 357,037 shares in the company, valued at $1,967,273.87. This trade represents a 3.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 58,566 shares of company stock worth $318,827. Corporate insiders own 30.40% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SGHT. Americana Partners LLC raised its position in Sight Sciences by 12.1% during the fourth quarter. Americana Partners LLC now owns 1,378,980 shares of the company's stock valued at $10,935,000 after acquiring an additional 149,161 shares in the last quarter. Palumbo Wealth Management LLC bought a new stake in Sight Sciences in the fourth quarter worth approximately $294,000. Dimensional Fund Advisors LP increased its stake in shares of Sight Sciences by 13.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 341,681 shares of the company's stock worth $1,288,000 after purchasing an additional 40,346 shares during the last quarter. WealthTrust Asset Management LLC increased its stake in shares of Sight Sciences by 14.1% during the 1st quarter. WealthTrust Asset Management LLC now owns 44,635 shares of the company's stock worth $168,000 after purchasing an additional 5,529 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Sight Sciences during the 1st quarter valued at $147,000. 55.51% of the stock is owned by institutional investors and hedge funds.

Sight Sciences Stock Performance

Shares of SGHT stock opened at $5.30 on Wednesday. Sight Sciences has a 1-year low of $3.11 and a 1-year high of $9.24. The company has a current ratio of 5.86, a quick ratio of 5.48 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $288.37 million, a price-to-earnings ratio of -7.46 and a beta of 2.38. The stock's fifty day simple moving average is $5.09 and its 200-day simple moving average is $4.97.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.05). Sight Sciences had a negative return on equity of 52.34% and a negative net margin of 46.83%.The business had revenue of $19.70 million during the quarter, compared to analysts' expectations of $18.46 million. On average, sell-side analysts predict that Sight Sciences will post -0.6 earnings per share for the current fiscal year.

About Sight Sciences

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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