Sight Sciences (NASDAQ:SGHT) Downgraded 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 Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Friday.

A number of other brokerages have also recently weighed in on SGHT. Morgan Stanley upped their price objective on shares of Sight Sciences from $3.00 to $4.00 and gave the stock 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 upped their price objective for the stock from $3.00 to $5.00 in a report on Friday, August 8th. Needham & Company LLC reiterated a "hold" rating on shares of Sight Sciences in a research note on Thursday, August 28th. Citigroup upped their target price on shares of Sight Sciences from $3.60 to $4.50 and gave the stock a "neutral" rating in a research note on Thursday, August 21st. Finally, Piper Sandler reiterated a "neutral" rating and issued a $4.00 target price (up previously from $3.50) on shares of Sight Sciences in a research note on Wednesday, June 18th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $4.42.

Sight Sciences Price Performance

Shares of SGHT opened at $3.69 on Friday. The stock has a market cap of $193.25 million, a PE ratio of -3.84 and a beta of 2.46. The company has a debt-to-equity ratio of 0.57, a quick ratio of 9.49 and a current ratio of 10.01. Sight Sciences has a fifty-two week low of $2.03 and a fifty-two week high of $7.03. The firm's 50-day simple moving average is $3.82 and its two-hundred day simple moving average is $3.35.

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, topping analysts' consensus estimates of ($0.25) by $0.02. The business had revenue of $19.56 million for 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%. Sight Sciences has set its FY 2025 guidance at EPS. Analysts anticipate that Sight Sciences will post -0.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Paul Badawi sold 23,637 shares of the 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 transaction, the chief executive officer owned 5,986,943 shares in the company, valued at $24,845,813.45. This represents a 0.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeremy B. Hayden sold 9,160 shares of the 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 in the company, 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. In the last 90 days, insiders have sold 43,365 shares of company stock worth $180,017. 30.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SGHT. Tower Research Capital LLC TRC raised its position in Sight Sciences by 32.7% in the second quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company's stock worth $48,000 after acquiring an additional 2,875 shares during the period. Jane Street Group LLC bought a new position in Sight Sciences in the second quarter worth approximately $148,000. B Group Inc. raised its position in Sight Sciences by 11.6% in the second quarter. B Group Inc. now owns 930,000 shares of the company's stock worth $3,841,000 after acquiring an additional 96,400 shares during the period. Panagora Asset Management Inc. bought a new position in Sight Sciences in the second quarter worth approximately $132,000. Finally, XTX Topco Ltd bought a new position in Sight Sciences in the second quarter worth approximately $67,000. Institutional investors own 55.51% of the company's stock.

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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