Sight Sciences (NASDAQ:SGHT) Upgraded to "Hold" at Wall Street Zen

Key Points

• Analysts at Wall Street Zen upgraded Sight Sciences from a "sell" rating to a "hold" rating, reflecting a recent shift in sentiment towards the stock.
• CitiGroup raised the target price for Sight Sciences from $3.60 to $4.50, while other firms have also modified their ratings, leading to a consensus target price of $4.42.
• Despite the positive rating adjustments, Sight Sciences' stock is down 4.4%, indicating ongoing volatility in the market.

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

A number of other analysts have also issued reports on the stock. Citigroup boosted their target price on shares of Sight Sciences from $3.60 to $4.50 and gave the company a "neutral" rating in a research note on Thursday, August 21st. Needham & Company LLC reissued a "hold" rating on shares of Sight Sciences in a research note on Thursday, August 28th. Morgan Stanley boosted their target price on shares of Sight Sciences from $3.00 to $4.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Piper Sandler reissued a "neutral" rating and set a $4.00 target price (up from $3.50) on shares of Sight Sciences in a research note on Wednesday, June 18th. Finally, Lake Street Capital raised shares of Sight Sciences from a "hold" rating to a "buy" rating and boosted their target price for the company from $3.00 to $5.00 in a research note on Friday, August 8th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $4.42.

Sight Sciences Stock Down 4.4%

NASDAQ SGHT opened at $3.46 on Friday. 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 company has a fifty day moving average of $3.75 and a two-hundred day moving average of $3.38. The firm has a market capitalization of $181.20 million, a price-to-earnings ratio of -3.60 and a beta of 2.46. Sight Sciences has a 52 week low of $2.03 and a 52 week high of $7.03.

Sight Sciences (NASDAQ:SGHT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.02. The company had revenue of $19.56 million during the quarter, compared to analyst estimates 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. On average, analysts predict that Sight Sciences will post -0.99 earnings per share for the current year.

Insider Activity

In related news, insider Jeremy B. Hayden sold 9,160 shares of Sight Sciences stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $4.17, for a total value of $38,197.20. Following the completion of the sale, the insider directly owned 266,321 shares in the company, valued at $1,110,558.57. The trade was a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Paul Badawi sold 23,637 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was 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 owned 5,986,943 shares of the company's stock, valued at $24,845,813.45. This represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,365 shares of company stock valued at $180,017 over the last 90 days. 30.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sight Sciences

Large investors have recently added to or reduced their stakes in the company. CWM LLC raised its holdings in Sight Sciences by 70.2% in the second quarter. CWM LLC now owns 7,607 shares of the company's stock worth $31,000 after purchasing an additional 3,137 shares in the last quarter. ProShare Advisors LLC bought a new position in Sight Sciences in the fourth quarter worth about $36,000. Tower Research Capital LLC TRC raised 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 worth $48,000 after purchasing an additional 2,875 shares in the last quarter. Bank of Montreal Can bought a new position in Sight Sciences in the second quarter worth about $49,000. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Sight Sciences by 38.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,888 shares of the company's stock worth $66,000 after purchasing an additional 4,453 shares in the last quarter. 55.51% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.