Sight Sciences (NASDAQ:SGHT) Earns Sell (D-) Rating from Weiss Ratings

Key Points

• Sight Sciences' stock received a Sell (D-) rating from Weiss Ratings, indicating a bearish outlook on the company's performance.
• Analysts show mixed ratings on the stock, with three rating it as a Buy, while the consensus rating remains Hold with an average price target of $4.33.
• CEO Paul Badawi's recent stock sale reflects a 0.41% decrease in ownership, highlighting potential insider sentiment regarding the company’s stock performance.

Sight Sciences (NASDAQ:SGHT - Get Free Report)'s stock had its "sell (d-)" rating reiterated by Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research analysts also recently issued reports on the company. Needham & Company LLC reissued a "hold" rating on shares of Sight Sciences in a research note on Thursday, August 28th. Lake Street Capital raised Sight Sciences from a "hold" rating to a "buy" rating and upped their price target for the stock from $3.00 to $5.00 in a research note on Friday, August 8th. Citigroup dropped their price target on Sight Sciences from $4.50 to $4.00 and set a "neutral" rating on the stock in a research note on Tuesday. Morgan Stanley upped their price target 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. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $4.00 price target (up 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, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Sight Sciences currently has a consensus rating of "Hold" and an average price target of $4.33.

Sight Sciences Price Performance

Shares of NASDAQ:SGHT opened at $3.47 on Wednesday. The company has a market capitalization of $181.71 million, a price-to-earnings ratio of -3.61 and a beta of 2.41. The company has a debt-to-equity ratio of 0.57, a current ratio of 10.01 and a quick ratio of 9.49. The business's 50-day moving average is $3.74 and its 200-day moving average is $3.48. Sight Sciences has a 1 year low of $2.03 and a 1 year high of $6.29.

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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.25) by $0.02. The company had revenue of $19.56 million for the quarter, compared to the consensus estimate of $18.18 million. Sight Sciences had a negative return on equity of 59.38% and a negative net margin of 64.23%. Sight Sciences has set its FY 2025 guidance at EPS. Equities research analysts predict that Sight Sciences will post -0.99 earnings per share for the current year.

Insider Activity

In other news, CEO Paul Badawi sold 24,441 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $3.34, for a total value of $81,632.94. Following the completion of the sale, the chief executive officer owned 5,962,502 shares in the company, valued at $19,914,756.68. This represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeremy B. Hayden sold 9,731 shares of the stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $3.27, for a total transaction of $31,820.37. Following the completion of the sale, the insider owned 256,590 shares of the company's stock, valued at approximately $839,049.30. This represents a 3.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,796 shares of company stock valued at $135,173. 30.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Sight Sciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its holdings in shares of Sight Sciences by 32.7% in the second quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company's stock valued at $48,000 after purchasing an additional 2,875 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Sight Sciences in the second quarter valued at about $148,000. B Group Inc. raised its holdings in shares of Sight Sciences by 11.6% in the second quarter. B Group Inc. now owns 930,000 shares of the company's stock valued at $3,841,000 after purchasing an additional 96,400 shares during the last quarter. Panagora Asset Management Inc. bought a new position in Sight Sciences during the second quarter valued at about $132,000. Finally, XTX Topco Ltd bought a new position in Sight Sciences during the second quarter valued at about $67,000. Hedge funds and other 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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