Sight Sciences (NASDAQ:SGHT) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Sight Sciences to “Buy” from “Hold,” while the broader analyst consensus remains “Hold” with a $7.88 target price.
• Sight Sciences reported a quarterly loss of $0.08 per share, beating estimates by $0.10, and revenue of $23.39 million, ahead of the $21.72 million consensus estimate.
• The stock traded up 5.4% to $7.47, but the company remains unprofitable, with a negative net margin of 35.69%; insiders have sold 58,566 shares over the past 90 days.

Sight Sciences (NASDAQ:SGHT - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

SGHT has been the subject of a number of other research reports. Citigroup upped their target price on Sight Sciences from $5.15 to $6.00 and gave the stock a "neutral" rating in a report on Wednesday, July 8th. Weiss Ratings cut Sight Sciences from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, May 11th. Finally, UBS Group raised their price objective on Sight Sciences from $7.00 to $8.00 and gave the company a "buy" rating in a research report on Thursday. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $7.88.

Sight Sciences Trading Up 5.4%

NASDAQ:SGHT opened at $7.47 on Friday. Sight Sciences has a one year low of $3.19 and a one year high of $9.24. The company has a debt-to-equity ratio of 0.58, a quick ratio of 5.48 and a current ratio of 4.95. The firm has a market cap of $406.44 million, a P/E ratio of -13.34 and a beta of 2.38. The firm has a 50-day simple moving average of $5.24 and a 200-day simple moving average of $4.92.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.10. Sight Sciences had a negative net margin of 35.69% and a negative return on equity of 43.39%. The firm had revenue of $23.39 million for the quarter, compared to the consensus estimate of $21.72 million. Equities analysts anticipate that Sight Sciences will post -0.6 EPS for the current fiscal year.

Insider Activity at Sight Sciences

In other news, insider Jeremy B. Hayden sold 12,733 shares of the business's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $5.51, for a total transaction of $70,158.83. Following the sale, the insider directly owned 357,037 shares of the company's stock, valued at $1,967,273.87. The trade was a 3.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James Rodberg sold 6,902 shares of the business's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $5.36, for a total value of $36,994.72. Following the sale, the chief financial officer owned 224,037 shares in the company, valued at approximately $1,200,838.32. The trade was a 2.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 58,566 shares of company stock valued at $318,827. 30.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Sight Sciences

Several large investors have recently made changes to their positions in SGHT. BNP Paribas Financial Markets raised its holdings in shares of Sight Sciences by 99.8% during the third quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company's stock worth $26,000 after purchasing an additional 3,785 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings 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 valued at $48,000 after purchasing an additional 2,875 shares during the last quarter. Diversified Trust Co purchased a new stake in Sight Sciences in the first quarter valued at $51,000. XTX Topco Ltd acquired a new stake in Sight Sciences during the 2nd quarter worth about $67,000. Finally, O Shaughnessy Asset Management LLC acquired a new stake in Sight Sciences during the 4th quarter worth about $81,000. 55.51% of the stock is owned by hedge funds and other institutional investors.

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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