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

Key Points

• Sight Sciences, Inc. has received a consensus analyst rating of "Hold", with four analysts advising to hold and three giving a buy rating, while the average price target is set at $4.4167.
• The company's stock has been volatile, trading down 1.1% and currently sitting at $3.69, with a 52-week range between $2.03 and $7.03.
• Despite reporting a loss, Sight Sciences outperformed expectations with a revenue of $19.56 million for the quarter, exceeding analyst forecasts of $18.18 million.

Sight Sciences, Inc. (NASDAQ:SGHT - Get Free Report) has been assigned a consensus recommendation of "Hold" from the seven research firms that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $4.4167.

Several equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Sight Sciences from $3.00 to $4.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Wall Street Zen cut shares of Sight Sciences from a "hold" rating to a "sell" rating in a research report on Friday. Needham & Company LLC reissued a "hold" rating on shares of Sight Sciences in a research report on Thursday, August 28th. Citigroup boosted their price target on shares of Sight Sciences from $3.60 to $4.50 and gave the company a "neutral" rating in a research report on Thursday, August 21st. Finally, Lake Street Capital raised shares of Sight Sciences from a "hold" rating to a "buy" rating and boosted their price target for the company from $3.00 to $5.00 in a research report on Friday, August 8th.

Sight Sciences Trading Down 1.1%

Shares of SGHT opened at $3.69 on Friday. Sight Sciences has a 52-week low of $2.03 and a 52-week high of $7.03. The company has a quick ratio of 9.49, a current ratio of 10.01 and a debt-to-equity ratio of 0.57. The firm's fifty day moving average is $3.82 and its two-hundred day moving average is $3.35. The stock has a market cap of $193.25 million, a PE ratio of -3.84 and a beta of 2.46.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.02. Sight Sciences had a negative net margin of 64.23% and a negative return on equity of 59.38%. The company had revenue of $19.56 million for the quarter, compared to analysts' expectations of $18.18 million. Sight Sciences has set its FY 2025 guidance at EPS. Research analysts forecast that Sight Sciences will post -0.99 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Paul Badawi sold 23,637 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $4.15, for a total transaction of $98,093.55. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeremy B. Hayden sold 9,160 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $4.17, for a total transaction of $38,197.20. Following the transaction, the insider directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 43,365 shares of company stock worth $180,017. Corporate insiders own 30.90% of the company's stock.

Institutional Trading of Sight Sciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC raised its holdings in Sight Sciences by 70.2% in the 2nd quarter. CWM LLC now owns 7,607 shares of the company's stock valued at $31,000 after buying an additional 3,137 shares during the period. ProShare Advisors LLC purchased a new stake in Sight Sciences in the 4th quarter valued at about $36,000. Tower Research Capital LLC TRC raised its holdings 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 buying an additional 2,875 shares during the period. Bank of Montreal Can purchased a new stake in Sight Sciences in the 2nd quarter valued at about $49,000. Finally, Wells Fargo & Company MN raised its holdings in Sight Sciences by 53.4% in the 4th quarter. Wells Fargo & Company MN now owns 16,600 shares of the company's stock valued at $60,000 after buying an additional 5,781 shares during the period. 55.51% of the stock is currently owned by hedge funds and other institutional investors.

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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