Sight Sciences (NASDAQ:SGHT) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• Sight Sciences has been downgraded from a "hold" to a "sell" rating by Wall Street Zen in a recent research report.
• Various brokerages have differing opinions on the stock, with Morgan Stanley setting a target price of $4.00 and Lake Street Capital increasing their price objective to $5.00 and upgrading their rating to "buy."
• In Q2, Sight Sciences reported a revenue of $19.56 million, exceeding expectations, but had a negative net margin of 64.23%.

Sight Sciences (NASDAQ:SGHT - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Friday.

Several other research firms have also issued reports on SGHT. Citigroup upped 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. Lake Street Capital raised Sight Sciences from a "hold" rating to a "buy" rating and raised their target price for the stock from $3.00 to $5.00 in a research note on Friday, August 8th. Morgan Stanley raised their target price on Sight Sciences from $3.00 to $4.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. Piper Sandler reissued a "neutral" rating and issued a $4.00 target price (up from $3.50) on shares of Sight Sciences in a research note on Wednesday, June 18th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Sight Sciences in a research note on Thursday, August 28th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $4.42.

Sight Sciences Trading Up 6.2%

NASDAQ SGHT traded up $0.21 during trading on Friday, hitting $3.62. 125,855 shares of the company's stock traded hands, compared to its average volume of 103,801. The stock has a fifty day moving average of $3.77 and a two-hundred day moving average of $3.37. The company has a debt-to-equity ratio of 0.57, a current ratio of 10.01 and a quick ratio of 9.49. Sight Sciences has a 12-month low of $2.03 and a 12-month high of $7.03. The firm has a market cap of $189.58 million, a P/E ratio of -3.77 and a beta of 2.46.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating 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 business had revenue of $19.56 million during the quarter, compared to analyst estimates of $18.18 million. Sight Sciences has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Sight Sciences will post -0.99 EPS for the current year.

Insider Activity at Sight Sciences

In other 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 transaction of $98,093.55. Following the completion of the transaction, the chief executive officer directly owned 5,986,943 shares in the company, valued at approximately $24,845,813.45. This trade represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeremy B. Hayden sold 9,160 shares of Sight Sciences 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 transaction, the insider owned 266,321 shares of the company's stock, valued at $1,110,558.57. The trade was a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,365 shares of company stock valued at $180,017 over the last quarter. Company insiders own 30.90% of the company's stock.

Hedge Funds Weigh In On Sight Sciences

Large investors have recently made changes to their positions in the business. CWM LLC lifted its holdings in shares of Sight Sciences by 70.2% during the second quarter. CWM LLC now owns 7,607 shares of the company's stock valued at $31,000 after purchasing an additional 3,137 shares during the last quarter. ProShare Advisors LLC bought a new stake in shares of Sight Sciences during the fourth quarter valued at approximately $36,000. Tower Research Capital LLC TRC increased its position in shares of Sight Sciences by 32.7% during the second quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company's stock valued at $48,000 after acquiring an additional 2,875 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Sight Sciences during the second quarter valued at approximately $49,000. Finally, Wells Fargo & Company MN increased its position in shares of Sight Sciences by 53.4% during the fourth quarter. Wells Fargo & Company MN now owns 16,600 shares of the company's stock valued at $60,000 after acquiring an additional 5,781 shares in the last quarter. 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.