Wall Street Zen upgraded shares of Sight Sciences (NASDAQ:SGHT - Free Report) from a sell rating to a hold rating in a report released on Saturday morning.
Other analysts have also issued reports about the company. Lake Street Capital raised Sight Sciences from a "hold" rating to a "buy" rating and raised their price target for the stock from $3.00 to $5.00 in a research note on Friday, August 8th. Citigroup raised their price target on Sight Sciences from $3.60 to $4.50 and gave the stock a "neutral" rating in a research note on Thursday, August 21st. Morgan Stanley raised 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. Needham & Company LLC reissued a "hold" rating on shares of Sight Sciences in a research note on Thursday, August 28th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $4.00 price objective (up from $3.50) on shares of Sight Sciences in a research note on Wednesday, June 18th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Sight Sciences presently has a consensus rating of "Hold" and a consensus target price of $4.42.
View Our Latest Stock Analysis on SGHT
Sight Sciences Trading Up 7.9%
NASDAQ:SGHT traded up $0.27 during mid-day trading on Friday, reaching $3.69. The company's stock had a trading volume of 81,888 shares, compared to its average volume of 107,471. The company's fifty day simple moving average is $3.76 and its two-hundred day simple moving average is $3.40. 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 twelve month low of $2.03 and a twelve month high of $7.00. The stock has a market cap of $193.25 million, a P/E ratio of -3.84 and a beta of 2.46.
Sight Sciences (NASDAQ:SGHT - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.25) by $0.02. Sight Sciences had a negative return on equity of 59.38% and a negative net margin of 64.23%.The firm had revenue of $19.56 million for the quarter, compared to analyst estimates of $18.18 million. Sight Sciences has set its FY 2025 guidance at EPS. On average, equities analysts predict that Sight Sciences will post -0.99 EPS for the current year.
Insider Activity
In related news, CEO Paul Badawi sold 23,637 shares of the firm'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 sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jeremy B. Hayden sold 9,160 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $4.17, for a total value of $38,197.20. Following the sale, the insider owned 266,321 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 43,365 shares of company stock worth $180,017. Company insiders own 30.90% of the company's stock.
Institutional Investors Weigh In On Sight Sciences
Several hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its holdings in shares of Sight Sciences by 32.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company's stock valued at $48,000 after buying an additional 2,875 shares during the period. CWM LLC increased its holdings in Sight Sciences by 70.2% during the 2nd quarter. CWM LLC now owns 7,607 shares of the company's stock worth $31,000 after purchasing an additional 3,137 shares during the last quarter. Rhumbline Advisers increased its holdings in Sight Sciences by 9.5% during the 1st quarter. Rhumbline Advisers now owns 49,797 shares of the company's stock worth $120,000 after purchasing an additional 4,319 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Sight Sciences by 38.9% during the 2nd 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 during the last quarter. Finally, Intech Investment Management LLC increased its holdings in Sight Sciences by 26.2% during the 2nd quarter. Intech Investment Management LLC now owns 25,366 shares of the company's stock worth $105,000 after purchasing an additional 5,261 shares during the last quarter. 55.51% of the stock is currently owned by hedge funds and other institutional investors.
About Sight Sciences
(
Get Free Report)
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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